U.S. December ADP employment data just released shows a gain of 41,000 jobs, significantly below the expected 47,000. What does this mean? Clearly, job growth has slowed down, raising concerns about an economic cooling.

From the Federal Reserve's perspective, such data often increases the likelihood of them adopting a more dovish policy stance. Once the rate hike expectations ease, the dollar tends to come under pressure. But what does this mean for crypto assets?

The logic is straightforward: weak ADP data → potential economic slowdown → Fed shifts to a dovish stance → dollar weakens, market liquidity environment improves → crypto assets gain more attention. Risk assets like ETH and Bitcoin are often supported under expectations of liquidity easing.

Many investors see it as a hedge against policy uncertainty, while others view it as a tool for volatility trading. Behind this rebound, the macro environment has opened a window for risk assets. Data speaks, logic makes sense.