Last week's unemployment claims just posted their sharpest spike since 2020—a data point that's sending ripples through risk asset markets. When jobless numbers jump this hard, it typically signals cracks in the economic foundation. For crypto traders, this matters: deteriorating labor conditions often precede Fed policy pivots and liquidity shifts. The last time we saw moves like this, central banks were scrambling to stabilize markets. Worth watching how Bitcoin and altcoins react if this trend continues—economic weakness historically drives both flight-to-safety and speculative rotation.