According to @EricBalchunas, the U.S. jobs report is delayed and any outcome will be both bad and good for markets, framing a trade-off between an improving economy and the appeal of rate cuts. Source: Eric Balchunas on X, Sep 5, 2025, https://twitter.com/EricBalchunas/status/1963939724977930676 Traders should structure scenarios around this trade-off: if markets prefer signs of improving growth, the implication is reduced urgency for rate cuts; if markets prefer rate cuts, the path of yields becomes the dominant driver of risk appetite. Source: Eric Balchunas on X, Sep 5, 2025, https://twitter.com/EricBalchunas/status/1963939724977930676 For crypto, this means monitoring rates expectations and Treasury yields as key inputs for beta exposure in BTC and ETH around the release and immediate aftermath. Source: Eric Balchunas on X, Sep 5, 2025, https://twitter.com/EricBalchunas/status/1963939724977930676