October wholesale sales printed a surprise miss this month. The data came in at -0.4% month-over-month, landing below the consensus forecast of -0.2%. This softer-than-expected reading on retail activity could signal cooling demand in the US economy heading into Q4. For crypto traders watching macro data, weaker consumption metrics like these often trigger risk-off sentiment in broader markets. When wholesale activity contracts, it typically suggests reduced business confidence and inventory management—factors that can ripple through asset classes including digital assets. Keep an eye on how this plays into the Fed's next policy moves, as economic weakness can shift expectations around interest rate cuts and liquidity conditions.