According to @KobeissiLetter, 71% of U.S. consumers expect unemployment to rise over the next 12 months, marking the highest reading since the 1980s, having doubled in less than a year and now surpassing the 2008 peak (source: @KobeissiLetter). According to @KobeissiLetter, the perceived probability of job loss among consumers hit 23%, the second-highest in at least 15 years (source: @KobeissiLetter). According to @KobeissiLetter, such grim labor market sentiment has not been observed outside of a recession, indicating elevated macro downside risk that traders monitor closely (source: @KobeissiLetter). According to Coin Metrics, BTC and ETH tend to strengthen their correlation with equities during macro stress, implying potential volatility transmission into crypto when recession risk rises (source: Coin Metrics).