MACRO WARNING SIGNAL:
U.S. unemployment just hit 4.6%, the highest in over 4 years up 50 bps since June.
That’s a fast deterioration in the labor market.
What this means for crypto:
When unemployment rises this quickly, the Fed usually falls behind the curve.
That increases the odds of rate cuts, liquidity support, or both.
Historically:
Weak labor data → easier financial conditions
Easier conditions → stronger risk assets
Bitcoin tends to front-run Fed pivots
Short term: volatility.
Medium term: pressure builds for monetary easing.
Markets don’t wait for the Fed.
Bitcoin prices the response before it’s announced.
ETH
3,033.5
+1.64%