Bitcoin (CRYPTO: BTC) surged 6% as U.S. planned layoffs more than tripled in January to their highest level since 2009, raising hopes the Federal Reserve will cut rates to support the economy and put a floor under risk assets down nearly 50% from highs.

The Layoff Surge

U.S. companies announced plans to cut 108,435 jobs in January — a 205% surge from the prior month and a 17-year high, according to outplacement firm Challenger, Gray & Christmas. 

Year-over-year, announced cuts rose 118%, signaling sharp labor market weakening.

Andy Challenger called it a high figure for January, noting most plans were set at the end of 2025, signaling employers are pessimistic about 2026.

This clashes with…

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