Recently, these two events have had a significant impact on the direction of the crypto market. Understanding the progress of these two matters is essential for us to make a more accurate judgment of the subsequent market trends.

First, let's talk about the first one. The US December non-farm employment data will be announced tonight at 21:30. This data is very critical; if it exceeds expectations, it will be bearish for the market; if it falls below expectations, it will be bullish. Currently, the probability seems to be roughly evenly split, which is quite uncertain.

Second, and possibly more impactful on the market, is the US Supreme Court's upcoming ruling on the legality of tariff policies, scheduled for today or tomorrow. This is a watershed moment. If the court rules the tariffs unconstitutional, interesting things could happen—an estimated return of over 100 billion USD in import taxes to the market, effectively injecting new liquidity. At the same time, if tariffs are reduced, inflation pressures will ease, and corporate costs will decrease. However, such actions might expand the fiscal deficit, leading the Federal Reserve to continue increasing the money supply, which is bullish for Bitcoin and gold. According to market expectations, the probability of a ruling declaring tariffs unconstitutional is about 60%.

My advice is to stay calm and hold your position. If there’s an opportunity to buy the dip, do so gradually, and wait for the results of these two events to see a market rebound. Don’t rush to sell; the rebound could be quite strong.