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.