The impact of artificial intelligence on the tech labor market is real and tangible, but it's not a collapse-style job market doomsday. Bitcoin will only perceive this change at a macro level, rather than having a mysterious direct correlation. The tech industry is currently experiencing selective layoffs and structural job transformations, not a wave of widespread unemployment. Companies like Amazon, Block, and Atlassian have all cited AI's efficiency benefits for layoffs, with Block directly linking layoffs to AI productivity. Several other companies are also reassigning employees to AI-related positions. Oracle plans to raise $45-50 billion to expand its AI infrastructure, and rumors of large-scale layoffs have not been officially confirmed. In February, US non-farm payrolls decreased by 92,000, with the IT industry losing 11,000 jobs in a single month. The tech industry has seen over 33,000 layoffs this year, with AI being the official reason cited for over 12,000 layoffs. However, the overall job market did not collapse. The core impact was concentrated on entry-level positions and general software roles, while recruitment for AI-related positions surged against the trend. CompTIA data shows that recruitment for AI skills positions increased by 111% year-on-year. Multiple research institutions also pointed out that AI only brings about a restructuring of the labor force; global employment is still showing net growth and it does not completely replace the workforce. For Bitcoin, its transmission logic relies entirely on the macro level and is not directly linked to changes in the technology workforce. Bitcoin maintains a positive correlation of 0.35-0.6 with the Nasdaq 100 index, essentially making it a high-beta risk asset, not a tool for hedging against layoffs. If the labor market weakens moderately and productivity remains stable, the market will bet on a Federal Reserve rate cut, and looser liquidity will benefit Bitcoin. However, if weak employment evolves into a full-blown growth panic, Bitcoin will fall in tandem with risk assets. It's worth noting that Block, which operates Bitcoin self-custody and mining businesses, is also streamlining its workforce through AI, meaning that AI efficiency improvements and Bitcoin expansion are not contradictory but driven by the same capital discipline. Overall, AI has not destroyed tech jobs; it has only changed the core logic of hiring and layoffs. Bitcoin continues to reflect this change through three channels: market relevance, liquidity environment, and interest rate expectations. The key going forward lies in whether the localized weakness in the information industry will spread into a full-blown growth panic before productivity bottoms out, which will directly determine Bitcoin's medium-term trend.