Retail spending in the UK is losing momentum. December marked the fourth straight month of slowing sales growth, as shoppers appear to be holding back and waiting for the post-holiday discount season to really kick in before they start spending freely again. This kind of cautious consumer behavior often signals broader economic hesitation – when people are this reluctant to spend even during what should be peak retail season, it reflects underlying concerns about finances and future economic conditions. For crypto markets, these macroeconomic indicators matter more than people realize. Risk-off sentiment in traditional markets frequently spills over into digital assets, especially during periods when consumer confidence is trending downward. The data suggests we could be entering a phase where both institutional and retail investors tighten their belts, potentially dampening demand across multiple asset classes including cryptocurrencies.