The latest released economic data revisions have triggered significant market fluctuations. The previously closely followed non-farm payroll data for May and June has been significantly revised downward, leading to a sharp decline in market sentiment.

The non-farm payroll data for May plummeted from the previously announced 144,000 to 19,000, and the June data further dropped sharply from 147,000 to only 14,000. This revision came as a shock, abruptly awakening investors to the realization that the previous optimism may have been based on inaccurate data.

This sudden data revision has severely impacted market confidence. Investors had originally made judgments and decisions based on relatively optimistic employment data, but now they find that the actual situation is far from expected. This sense of disparity has led to a rapid collapse of market confidence, triggering a wave of panic selling.

Even if companies release good financial reports, it is difficult to reverse market sentiment in the face of the current trust crisis. This plunge is essentially a sell-off triggered by a trust crisis caused by data corrections.

The cryptocurrency market, including Bitcoin, has also not been spared and has similarly suffered from the impact of this wave of market turmoil. Investors generally hold a cautious attitude towards the economic outlook, and risk aversion sentiment has significantly increased.

This event once again highlights the significant impact of economic data on the market and the necessity of maintaining data accuracy and timeliness. Future market trends will largely depend on the performance of subsequent economic data and how policymakers respond to the situation. Investors need to closely follow the subsequent developments and carefully assess the risks.