Layoffs just crossed the 1.1 million threshold—something we've only witnessed five other times since 1993. The last occurrence? 2020, when the pandemic sent job cuts through the roof. This rare milestone signals a shift worth watching. Economic cycles have their patterns, but hitting this level outside a global health crisis raises questions about what's driving workforce reductions now. Are companies restructuring for efficiency, or is something deeper at play in the labor market? Historical data suggests these spikes don't happen in isolation—they're often tied to broader economic recalibrations that eventually ripple through asset markets, including digital assets.