A wave of major employment data is coming tonight. How will the market react? Will it continue to surge or pull back first to build momentum?

Here’s the timeline: At 8:30 PM, the November corporate layoff figures will be released. At 9:30 PM, the main event arrives—the initial jobless claims for the week ending November 29, with the market expecting 220,000. By 11 PM, we’ll see the November Supply Chain Pressure Index and the month-over-month factory orders for September.

To be honest, while this employment data is quite important, the entire market has already pinned its hopes on the Fed cutting rates by 25 basis points in December. How confident are they? If you check the odds on Polymarket, the probability of this happening has already soared to 94%.

So here’s the question: After the data comes out, will the crypto market use the momentum for another rally, or will there be a technical pullback first? In the short term, it all depends on whether tonight’s numbers meet expectations.