US full-time employment fell by 𝟱𝟭𝟰,𝟬𝟬𝟬 in June to 133.66M — the lowest since December 2024 — marking the 3rd consecutive monthly decline. Since January 2025, full-time jobs have dropped 𝟮.𝟮𝟰𝗠, erasing gains back to Q1 2023 levels. The employment-to-population ratio has fallen to 𝟰𝟴.𝟱%, the lowest since mid-2021. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: Full-time job losses accelerating at -2.24M over 18 months is structural deterioration, not noise. This strengthens the Fed easing case — each weak labor print increases the probability of rate cuts, which is ultimately bullish for risk assets once the market shifts from growth fears to rate-cut pricing. For BTC, the near-term risk is a growth-scare selloff, but the medium-term tailwind from rate-cut expectations is the dominant force. Watch whether BTC holds support or sells off on the initial risk-off reaction. source: KobeissiLetter Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=1180(Hupzy (Spot On Chain))