#美国贸易赤字状况 The US unemployment rate just surged to 4.4%—the implications behind this number are deeper than they appear on the surface.

From a macroeconomic perspective, rising unemployment typically indicates a slowdown in economic growth. And once signs of recession emerge, monetary policy will face pressure to shift. Historically, every easing cycle has been accompanied by similar deterioration in employment data.

The logic here is quite clear:
Economic weakness → Central bank increases liquidity → Capital markets reprice → Risk assets capture the main gains

And the performance of the crypto market within this chain is particularly noteworthy. In previous easing cycles, $BTC and $ETH have often been the first assets to respond to liquidity releases. Not because of speculation, but because in a low-interest-rate environment, non-yielding assets become relatively more attractive.

Of course, there are some variables between now and the actual policy shift. But the deterioration in unemployment data undoubtedly sends a certain signal. Market pricing may need to react to these changes in advance.

For traders, the key is to observe the Federal Reserve’s next move.