Bitunix Analyst: FOMC Split Intensifies Policy Vacuum Before Non-Farm Payrolls Return BTC Retests $90K Level Rebound

On November 20th: Prior to the significant data release, the minutes of the Federal Reserve's October meeting disclosed a rare and profound internal disagreement. This has made the market particularly sensitive during the lull period regarding non-farm payrolls, the unemployment rate, and initial jobless claims. The minutes indicated that policymakers have fallen into a sharp dispute, which is rarely seen in years, regarding whether to continue interest rate cuts in December. "Many" officials believe that there is a lack of basis for further rate cuts, while only "a few" officials are inclined towards continued easing. Some regional Fed branches even opposed the rate cut decision made in October, indicating a rift within the FOMC in both directions and paces. Due to the government shutdown, critical employment and inflation data have been delayed, worsening the situation of policy's blind flight. The market is once again betting that tonight's release of non-farm payrolls will be the ultimate benchmark for the December meeting. In this policy vacuum, the reaction of the crypto market is the most direct. The panic index has dropped to 10, reflecting that panic sentiment has not yet subsided. The trading volume in the past 24 hours is at a neutral threshold of 344.91 billion, showing a conservative attitude in the market ahead of the non-farm data. Currently, BTC is retesting above $90,000, with a short-term resistance level to watch at $93,000, and the trend will be dominated by tonight's data. Bitunix analysts believe that in the current environment where policy consensus has disappeared, data timeliness is distorted, and tensions between the White House and the Federal Reserve are escalating. The market is entering a phase where price dictates the narrative. If the non-farm data shows a rapid cooling of the labor market, the market will once again bet on a rate cut in December, with BTC expected to test the 93,000 to 95,000 range; conversely, if the data still shows resilience, it will amplify policy divisions, trigger a repricing of interest rates, and make high-leverage positions the first adjustment targets. Tonight's data is not just a metric but may also become a short-term structural turning point.