According to @charliebilello, the University of Michigan Consumer Sentiment index dropped to 50.3, the second-lowest reading since 1952, source: University of Michigan Surveys of Consumers and @charliebilello. At the same time, U.S. Retail Sales grew 4.8 percent year over year and outpaced inflation by 1.8 percent, source: U.S. Census Bureau Advance Monthly Retail Trade and U.S. Bureau of Labor Statistics CPI as cited by @charliebilello. Bilello notes this is the widest on-record gap between what consumers report and what they spend, source: @charliebilello. For positioning, crypto traders can contextualize this macro divergence given IMF research showing BTC and ETH increasingly move with U.S. equities and global risk appetite, source: International Monetary Fund research on crypto and equity market correlation.