U.S. small businesses cut 120,000 jobs in November, according to the ADP National Employment Report released on December 3. This decline highlights economic challenges faced by smaller firms. In contrast, mid-sized and large companies added a combined 90,000 jobs, providing some economic stability. The crypto market responded to the labor data with modest gains in Bitcoin and altcoins, as traders speculated on a potential shift towards a softer Federal Reserve policy in early 2026. The mixed employment figures underscore the crypto market's sensitivity to macroeconomic indicators and Federal Reserve expectations.