November saw prices climbing as American consumers kept their wallets open—and inflation data tells the real story. When spending doesn't slow down, it signals the Fed's tightening measures haven't fully cooled demand yet. This matters more than you'd think for the crypto space.

Here's why: persistent consumer spending typically keeps inflation stickier than expected, which can influence how central banks recalibrate policy. Markets hate uncertainty around rate trajectories. If inflation remains elevated, it reshapes everything—from bond yields to risk asset appetite.

For crypto traders, this dual dynamic is crucial. Strong consumption suggests economic resilience, but it also means the inflation puzzle isn't solved. That tension creates opportunity—or headwind—depending on how the data evolves. Watch this metric closely; it's one of the clearest signals of where monetary conditions are really headed.