On January 7th, the U.S. automated data processing company released the highly anticipated private sector employment report. As soon as the data was out, the market reaction was straightforward—private sector jobs added in December totaled 41,000, marking a rebound from the downturn in November.

To be honest, this number is slightly below the economists' consensus estimate of 50,000, but considering the significant decline in the previous month, a rebound to this level is already quite appropriate. This is exactly the "small non-farm" performance the market wants to see—neither too hot nor too cold.

The significance for the crypto market lies here: this data once again proves the resilience of the U.S. economy. The expectation of a soft landing remains intact, which means the Federal Reserve is more likely to stay on the sidelines in the short term. Market pricing also reflects this—interest rate futures still indicate that the Fed may cut rates three times by 2026. In other words, the expectation of a dovish cycle still exists, which provides a mild positive outlook for risk assets (including cryptocurrencies).