Today (January 7th) is definitely a trading day worth paying attention to. From the Asian session to the European and American night sessions, a series of economic data releases throughout the day could potentially move the cryptocurrency market with every number behind them.

First, let's talk about the Asian period. The Chinese foreign exchange reserves data is important to watch, as it can reveal the flow of international capital. By the European afternoon, the key figures are Germany's unemployment rate and the Eurozone CPI preliminary estimate. If inflation remains high, the European Central Bank's tightening expectations will intensify, and risk assets will naturally face a sell-off.

The truly decisive moment comes during the US night session. A series of indicators such as ADP employment data, ISM Services PMI, and job openings will gauge the temperature of the US economy. What does strong employment data mean? It indicates that the Federal Reserve is less eager to cut interest rates, and the dollar will strengthen further. For Bitcoin and other cryptocurrencies, this is usually not good news—when the dollar is strong, funds tend to flow from risk assets to safe-haven assets.

Don't forget the EIA crude oil inventory data. If energy prices surge again, the market will start to worry about stagflation, and all assets will be dragged down, including cryptocurrencies.

Finally, there will be speeches from Federal Reserve officials late at night. Any comments on interest rates will be amplified and interpreted by the market. Overall, today's market will depend on data, and position allocation should be cautious.