Bitcoin (CRYPTO: BTC) surged 6% as U.S. planned layoffs more than tripled in January to their highest level since 2009, raising hopes the Federal Reserve will cut rates to support the economy and put a floor under risk assets down nearly 50% from highs. The Layoff Surge U.S. companies announced plans to cut 108,435 jobs in January — a 205% surge from the prior month and a 17-year high, according to outplacement firm Challenger, Gray & Christmas.