The job market's collapsing. Layoffs keep piling up, hiring has basically frozen, and wage pressure is mounting across sectors. This kind of economic deterioration usually spells trouble for risk assets—think crypto, tech stocks, and growth plays. When employment weakens, consumer spending follows, central banks face more pressure to ease policy, and investors get nervous about recession signals. For the crypto space, it's another reminder that macro conditions matter more than we sometimes admit. Altseason tends to stall when the real economy shows cracks.