According to The Kobeissi Letter, the US professional and business services sector has lost 248,000 jobs since May 2023, marking a significant contraction for 17 consecutive months. This is the longest streak since 2008. The downturn in this sector may influence investor sentiment in the cryptocurrency markets, as reduced employment can lead to decreased disposable income and potentially less investment in high-risk assets such as cryptocurrencies. This trend should be closely monitored by traders as it could impact market liquidity and volatility.

According to ZachXBT, there have been significant job losses in the cryptocurrency industry over the past week. This development could signal financial instability within the sector, potentially impacting market sentiment and trading volumes.