The freshly released data is quite interesting—

The US November ADP employment data totally missed expectations: not only was there no growth, but 32,000 jobs were actually lost. Keep in mind, the market had previously expected an increase of 5,000 jobs—quite a shocking gap.

October’s data was revised upward a bit, from the previously announced 42,000 to 47,000, but that doesn’t make up for the big hole in November.

**What does this mean?**
The labor market is clearly cooling down. At this rate, the probability of the Fed cutting rates by 50 basis points this month has increased again.

For our crypto market, rising expectations for looser liquidity are usually not a bad thing. Those still stubbornly holding onto short positions are probably starting to get nervous now, right?

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MetaMaximalist

· 16h ago

ngl the employment miss is wild, but let's be real—these macro swings are kinda baked into the adoption curve at this point. the liquidity narrative is fascinating from a network effects perspective, though most people sleeping on the actual infrastructure play here tbh

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BoredRiceBall