US Continuing Jobless Claims Fall to 1.774 Million

The marginal decline in continuing claims suggests layoffs are not accelerating, but the move is small enough that it says little about rehiring. For risk assets, including crypto, the read-through is indirect: a labor market that isn't deteriorating sharply gives the Fed less urgency to ease, which keeps the macro backdrop for liquidity-sensitive trades in a holding pattern. Whether continuing claims keep drifting lower or stall is the open question.