According to @cryptorover, U.S. consumer sentiment has dropped to its second-lowest level on record, falling below the 2008 financial crisis low. According to the University of Michigan Surveys of Consumers, the most widely tracked U.S. consumer sentiment benchmark is the University of Michigan Consumer Sentiment Index, which measures current conditions and expectations for household finances and business conditions. According to IMF research, crypto assets including BTC and ETH have become increasingly correlated with equities since 2020, heightening the risk that weak sentiment-driven equity moves spill over into crypto.