According to The Kobeissi Letter, Canada's unemployment rate has surged to 6.9% in May 2025, exceeding expectations and hitting its highest level since 2021. The youth unemployment rate has also climbed sharply to 13.7%. These developments, attributed in part to the effect of tariffs, are causing concerns over economic stability and potential risk-off sentiment in traditional markets. Traders should monitor for increased capital flows into cryptocurrencies as investors may seek hedges against economic uncertainty, particularly as macroeconomic pressures mount. (Source: The Kobeissi Letter)

According to Edward Dowd on Twitter, the latest monthly US Disability data is approaching record highs, signaling a persistent negative trend. This development could influence macroeconomic conditions and risk sentiment in cryptocurrency markets, as rising disability rates may impact consumer spending and labor force participation. Traders should monitor these data points for potential effects on Bitcoin and altcoin volatility and adjust risk management strategies accordingly (source: Edward Dowd, Twitter, May 2, 2025).