According to The Kobeissi Letter, the Philadelphia Fed Services index fell by 19.4 points in March to -32.5, marking the lowest level since the 2020 pandemic. This decline, excluding 2020, represents the worst reading in 14 years. The new orders index also dropped by 18.2 points to -19.5, the lowest since April 2023. These figures suggest significant economic strain, with potential impacts on cryptocurrency trading strategies as market participants may reassess risk exposure.

According to The Kobeissi Letter, the Philadelphia Fed Manufacturing index experienced a significant drop of 5.6 points in March, reaching 12.5, marking its second consecutive monthly decline. The six-month outlook for new orders also plummeted by 30.8 points to 2.3, the lowest level in three years, indicating potential challenges ahead for traders focusing on manufacturing sectors. This event represents the third-largest decline in history, surpassed only by the declines observed in 2008, emphasizing the need for traders to reassess their positions in related markets.

According to The Kobeissi Letter, consumers spent a record $75.1 billion on 'Buy Now Pay Later' services in 2024, as 19.9% of US consumers used these services in 2023, per Philadelphia Fed. This trend highlights a growing reliance on debt to manage inflation pressures.