November personal spending data just rolled in—actual came in at 0.5%, slightly beating the 0.4% from the previous month and matching expectations at 0.5%. This metric matters because consumer spending patterns feed directly into inflation pressures and Fed policy direction, which ripples through asset markets including crypto. When Americans tighten their wallets, it typically signals recession concerns; when they spend freely, it can stoke inflation fears. The uptick here suggests steady demand holding up, though the Fed will keep watching these signals as they navigate interest rate policy for 2025.