News on May 3. The non-agricultural report released on May 3 showed that 177,000 new jobs were created in April, which was lower than the previous month but higher than expected, indicating that employment slowed but not as weak as market concerns; the unemployment rate remained stable at 4.2%, still at a high level. The average hourly wage increased by 0.2% monthly and 3.8% year-on-year. Salary growth slowed down and inflationary pressures were moderate. FedWatch shows that the probability of a rate cut in June has dropped to 50%, and the market remains uncertain about the economic and policy path. Overall, the employment data is not bad but wages are weak. The Fed may still remain on the sidelines, market shocks intensify, and Bitcoin maintains a consolidation pattern in the short term. Bitunix analysts suggest: The data is contradictory, employment resilience and wage slowdown are intertwined, and BTC is still limited by US$97,000 in the short term. It is necessary to observe whether there is a quantity that can break through; if expectations for interest rate cuts heat up again, pay attention to the trend of the US dollar and interest rates, and flexibly adjust positions. It is recommended to continue to observe the movements of FOMC and allocate stablecoins or gold hedging policies and macro risks.