The U.S. labor market continues to cool, with unemployment rising to 4.4%, weak hiring, and a gradual increase in layoffs—creating a “low hiring, low firing” stagnation pattern. Several economists warn that if employment in core industries weakens further, the labor market could face significant downside pressure in 2026. The Federal Reserve has also acknowledged meaningful downside risk to employment. While markets remain divided on whether the current environment reflects a “soft landing hangover” or an early recession signal, macro uncertainty has clearly become the consensus.
In crypto, BTC has entered a consolidation phase. Major upside liquidation clusters are concentrated near $90,144, $91,000, and $91,300, indicating persistent selling pressure and elevated leverage risk during rebounds. Key support sits at $87,500; losing this level could trigger another round of forced deleveraging. In the near term, price action is likely to stay range-bound until macro data and liquidity trends offer clearer direction.
Bitunix Analyst View: With both employment and growth slowing, market risk appetite remains fragile. Whether BTC can firmly reclaim the upper liquidation zones will determine if momentum can extend or begins to fade. Meanwhile, a cluster of central-bank rate decisions later this month may reset liquidity expectations for 2026.
