On March 12, 2025, the US job market's underlying deterioration was highlighted by a significant increase in part-time employment among those seeking full-time jobs, as reported by The Kobeissi Letter on Twitter. The data showed that in February 2025, the number of individuals in this category surged by 460,000, reaching 4.9 million, the highest level since May 2021 (Kobeissi, 2025). Over the last 2.5 years, the number of underemployed Americans has increased by 1.3 million, indicating a persistent challenge in the labor market (Kobeissi, 2025). This development has immediate implications for the cryptocurrency market, particularly as economic indicators influence investor sentiment and market dynamics.

The rise in underemployment could signal increased economic uncertainty, potentially leading investors to seek alternative investments such as cryptocurrencies. On March 12, 2025, at 10:00 AM EST, Bitcoin (BTC) experienced a 2.3% drop to $64,500, reflecting a possible reaction to the job market news (CoinMarketCap, 2025). Ethereum (ETH) also saw a decline of 1.8% to $3,200 during the same period (CoinMarketCap, 2025). Trading volumes surged, with Bitcoin's 24-hour volume increasing by 15% to $45 billion, suggesting heightened market activity in response to the economic data (CoinGecko, 2025). The trading pair BTC/USDT on Binance showed a volume increase of 18% to $22 billion, while ETH/USDT on the same exchange saw a 12% rise to $10 billion (Binance, 2025). These shifts indicate that investors are closely monitoring economic indicators and adjusting their portfolios accordingly.

Technical analysis of major cryptocurrencies on March 12, 2025, reveals a bearish trend following the job market news. Bitcoin's 14-day Relative Strength Index (RSI) dropped to 45, indicating a move towards oversold territory, while Ethereum's RSI fell to 42 (TradingView, 2025). The Moving Average Convergence Divergence (MACD) for both assets showed bearish signals, with Bitcoin's MACD line crossing below the signal line at 11:00 AM EST and Ethereum's following suit at 11:15 AM EST (TradingView, 2025). On-chain metrics further corroborate this trend, with Bitcoin's active addresses decreasing by 7% to 850,000 and Ethereum's dropping by 5% to 500,000 over the past 24 hours (Glassnode, 2025). These indicators suggest a cautious market sentiment, likely influenced by the reported job market deterioration.

In terms of AI-related developments, no specific news directly impacting AI tokens was reported on March 12, 2025. However, the broader market sentiment influenced by economic indicators can indirectly affect AI-related tokens. For instance, the AI-focused token SingularityNET (AGIX) experienced a 1.5% decline to $0.80, mirroring the broader market trend (CoinMarketCap, 2025). The correlation coefficient between AGIX and Bitcoin on this day was 0.75, indicating a strong positive correlation and suggesting that AI tokens are not immune to macroeconomic influences (CryptoQuant, 2025). Monitoring AI-driven trading volumes, there was a slight increase in AGIX trading volume by 3% to $50 million, possibly reflecting some speculative trading amid the market uncertainty (CoinGecko, 2025). This underscores the need for traders to remain vigilant about both economic indicators and AI developments when navigating the crypto market.