The American labor market is losing steam faster than economists predicted, and that shift is already recalibrating rate expectations across the crypto space. Private employers added just 98,000 jobs in June—the smallest monthly gain since March and a clear miss versus the 118,000 consensus estimate, according to the ADP report released Wednesday. The prior month’s reading was also revised lower to 122,000, adding to the picture of an economy that is decelerating more sharply than many had priced in.