Labor market winds are shifting. Recent employment data shows signs of stabilization, with jobless figures ticking down—pointing to earlier weakness being more of a blip than a trend. Analysts watching the Fed's next moves say the central bank is likely to sit tight for now. Rate cuts don't look imminent when job markets are firming up. This kind of macro backdrop matters more than most realize—it shapes everything from liquidity conditions to how capital flows in and out of risk assets, including crypto.