Tonight at 21:30, the global markets will face the "Judgment Day"! Last night, Powell announced a rate cut and balance sheet expansion, but the market surged then fell back, with Bitcoin and Ethereum both plunging. This indicates that optimistic sentiment has been overextended, and positive news has turned into negative. Powell also stated that the Federal Reserve will return to a data-dependent approach. The US initial jobless claims for the week ending December 7 are the first key data point, dubbed the market’s “Judgment Day”. The current employment market is the key factor, and initial jobless claims are the “thermometer” measuring its health. The expected figure of 220,000 is a critical psychological threshold. If the reported number is less than 220,000, the labor market remains resilient, raising the bar for Fed rate cuts, potentially triggering a selling wave and putting pressure on risk assets; if the figure exceeds 220,000, it confirms a cooling employment market, and risk assets may rally. However, a bigger cloud— the possible rate hike by the Bank of Japan—is approaching, tightening global liquidity. In the "data dependency" guessing game, any data below expectations could be the straw that breaks the camel’s back. Tonight, don’t focus on just one number; it will set the tone for at least a month of trading. Buckle up, as this will be a battlefield of bulls and bears. A rebound could be the last chance for shorts to add positions or longs to escape their tops! $SOL $BNB $XRP