According to CoinMeta, based on early data from in, the U.S. non-farm payroll report in July showed a decrease of 23,000 jobs, falling short of the expected increase of 80,000. Additionally, the figures for May and June were revised downward by a total of 103,000 jobs. The market's expectation of a rate hike in September has dropped from 55% on Thursday to 44%. Analysts believe that these weak numbers are sufficient for Federal Reserve officials to re-evaluate the labor market. The weak employment situation has forced the Fed to abandon its aggressive stance on interest rate hikes, and market bets on tightening policies have rapidly cooled down. The focus of monetary policy has shifted from fighting inflation to preventing recession.