Year-end figures show American consumers remain resilient—spending and borrowing held steady through Q4 2025, maintaining momentum despite headwinds. But here's the catch: job security concerns haven't gone away, tariff uncertainty keeps weighing on sentiment, and inflation stubbornly refuses to fade. This backdrop matters for markets. When consumer behavior shifts, so do capital flows across different asset classes. Keep an eye on these macro dynamics—they shape the conditions that drive crypto volatility and institutional appetite.