QCP Capital, a Singapore-based cryptocurrency investment firm, published a statement overnight indicating that the downward revision of US non-farm payroll employment figures highlighted weakness in the labor market, causing concerns about the possibility of the Fed delaying rate cuts and triggering a sell-off. However, the minutes from the July Federal Open Market Committee (FOMC) meeting showed that some policymakers are willing to cut interest rates, which released a more dovish stance aimed at balancing inflation and employment goals, thus alleviating these concerns. This dovish tone boosted risk assets and pushed the price of Bitcoin above $61,800, with strong buying on Coinbase continuing until 4am Singapore time. The aggressive buying on Coinbase (indicating US domestic demand) is a good signal for short-term trends. Now, the market's focus is on Fed Chairman Powell's speech tomorrow in Jackson Hole, hoping to get more signals about rate cuts. Given the market's widespread bet on rate cuts, unexpected economic data may have a significant impact on the market.