The U.S. unemployment rate reached 4.44% in September 2025, exceeding expectations and casting uncertainty on the Federal Reserve’s plans for a December interest rate cut. This increase coincides with heightened market volatility, impacting both traditional financial markets and the cryptocurrency space. The anticipated move by the Fed to lower rates may be delayed, as higher unemployment casts doubt on the pace of economic recovery. 4.4–4.5% projections for Q4 2025 suggest the Federal Reserve expects further increases in unemployment. This volatility also affects crypto markets, with Bitcoin experiencing a significant downturn and potentially prolonged market shifts.