US jobless claims just hit 263K, the highest since Oct 2021. Forecast was only 235K, actual came in 12% higher. Weak labor data fuels bets that the Fed will cut rates 3 times before end-2025. Lower rates = looser liquidity → potential fuel for ETF inflows into risk assets like Bitcoin & Ethereum. Macro data is sending a signal: Capital is already positioning for easier policy. The question is how crypto ETFs will capture that flow.