Is NFP really effective?

I'm curious to know, is the Non-Farm Payrolls (NFP) data release truly an effective indicator for predicting the future direction of the financial markets, particularly in the realm of cryptocurrency and finance? Many traders and investors seem to rely heavily on this data point, but I'm wondering if it truly holds the weight it's given. Are there any potential limitations or biases to consider when interpreting the NFP numbers? I'd love to hear your insights on this matter.