Bitunix Analyst: Non-farm payrolls stronger than expected suppresss rate cut expectations, BTC $80k liquidity zone continues to be tested

Crypto Market News, May 11 — The U.S. added 115k non-farm jobs in April, significantly higher than the market expectation of 62k, with the previous figure also revised up to 185k, indicating that the U.S. labor market remains resilient. Although consumer confidence in May dropped to a historic low, the one-year inflation expectation unexpectedly declined, fueling market expectations that the “economy is slowing but inflation remains sticky.” Federal Reserve officials have recently maintained a cautious stance. Goolsbee believes the employment market is still quite stable, but inflation performance remains unsatisfactory; Lagarde admitted that the central bank is currently caught in a dilemma between “acting too early and acting too late.” The market is now beginning to reprice the possibility of “maintaining high interest rates for longer.” On the geopolitical front, U.S.-Iran negotiations have yet to make substantial progress. Iran has officially rejected the U.S. proposal, but both sides continue communication through Pakistan, with negotiations shifting focus to maritime security and a ceasefire framework. The Strait of Hormuz has recently shown signs of shipping activity resuming, with Qatar LNG carriers passing through for the first time in about 70 days, indicating that concerns over a total blockade have eased somewhat. In the crypto market, from the liquidation map, Bitcoin (BTC) currently remains around $80,000 as a short-term key level separating bulls and bears, with noticeable bullish liquidity accumulation, while the $83,000 region shows a large number of short liquidations. Overall, the market remains range-bound in the short term, with funds waiting for new macro catalysts. Regarding derivatives data, BTC open interest (OI) has continued to decline slightly to $25.6 billion, indicating that leverage in the market is cooling down, and short-term chasing of prices is limited. Although funding rates have not turned positive significantly, bearish pressure has eased, showing that the market is currently more inclined to wait for macro data and geopolitical developments to become clearer before deciding on the next phase.