The latest data released by the U.S. Department of Labor is quite interesting—as of the week ending November 29, initial jobless claims dropped to 191,000.

The market was expecting 220,000, so the actual number came in significantly below expectations. Even more notably, last week’s figure of 216,000 was revised up to 218,000, but this time it plunged straight down to 191,000.

Stronger-than-expected employment data usually means the Federal Reserve may maintain a hawkish stance, which puts short-term pressure on risk assets. The crypto market has always been sensitive to such macro signals, especially assets like Bitcoin that are increasingly correlated with traditional financial markets.

After the data release, it’s advisable to pay close attention to changes in market liquidity and the movements of major funds. Robust employment data often comes with a cooling of rate cut expectations, which can impact the entire pricing logic of risk assets.