According to The Kobeissi Letter, New York business services activity dropped by 8.8 points in March 2025, reaching -19.3, the lowest level since January 2023. The index of expectations decreased by 24.9 points to -3.3, the lowest since December 2022, while the business climate index fell by 16.0 points to -51.7, marking the lowest in four years. These declines suggest potential bearish trends in regional economic performance, which could influence local cryptocurrency market sentiment.