The U.S. job market has recently shown signs of severe deterioration, with the latest data indicating that unemployment claims have surged to 248,000, reaching the highest level since the pandemic began in 2021. Even more concerning for the market is that this marks the fourth consecutive week of a rise, indicating that the job market is experiencing systemic pressure.

Analysts point out that this trend is likely related to the gradual economic impact of tariff policies. As these policies continue to affect the market, it is expected that the unemployment rate and inflation will rise in tandem over the next few months, while the Federal Reserve will find it difficult to implement interest rate cuts due to inflationary pressures, and can only maintain high interest rate levels, which will undoubtedly further suppress economic growth momentum.

Inflation data is also concerning. The latest Producer Price Index ( PPI ) jumped from 2.4% to 2.6%, and the Consumer Price Index ( CPI ) is also on the rise. According to the Federal Reserve's own inflation forecasting model, future inflation data may be even more worrying, as the May data has already closely aligned with the forecast.

At the same time, the cryptocurrency market also has significant uncertainty. Although Bitcoin has risen to nearly $70,000, with an increase of 60%, this also means that there is a huge space for a pullback. A drop from $110,000 to $100,000 might just be a minor adjustment, and the market bottom may not have appeared yet. After the recent sharp decline, a slight rebound may occur, which could be an opportunity window for investors to adjust their positions.

The worsening trend of current economic data should raise sufficient alert among investors, as the dual pressure of the job market and inflation data may pose more severe challenges to the economy.