According to The Kobeissi Letter, information technology jobs in San Francisco and Northern Silicon Valley fell to 107,700 in April, marking the lowest level since June 2020. Since August 2022, the sector has lost 25,400 jobs, representing a 19% decline (source: The Kobeissi Letter, June 20, 2025). This contraction in tech employment mirrors post-dot-com bubble trends, signaling potential headwinds for the broader tech ecosystem. For crypto traders, reduced tech sector hiring can dampen innovation and funding in blockchain and digital asset startups, potentially weakening momentum for cryptocurrencies like BTC and ETH in the near term.

According to The Kobeissi Letter, Information Technology jobs in San Francisco and Northern Silicon Valley dropped to 107,700 in April 2025, marking the lowest level since June 2020. The sector has shed 25,400 jobs, a 19% decrease since August 2022. This significant contraction mirrors post-Dot-Com Bubble trends and signals a shift in tech sector stability. For crypto traders, this downturn could drive increased interest in blockchain and decentralized finance (DeFi) jobs, while also potentially impacting venture capital flows into Web3 projects and crypto startups. Source: The Kobeissi Letter, Twitter, June 20, 2025.