U.S. consumer debt growth slows, onramps from fiat to crypto will continue to be limited

According to data released by the Federal Reserve on Wednesday, total credit outstanding increased by $8.9 billion in June, compared with an upwardly revised $13.9 billion in May, below the consensus estimate of a $10 billion increase. This was mainly due to a rare negative growth in credit card debt and a spike in delinquencies, signaling a collapse in personal savings rates.

This is significant for cryptocurrencies as it suggests that the onramps from fiat to crypto will continue to be limited as U.S. consumers have reached their limits in spending power, and while the reversal of the yen carry trade may have paused on Monday, stabilizing risk assets including Bitcoin, other risks remain, such as a slowdown in U.S. consumer borrowing. $BTC $ETH $SOL #Ripple于诉讼中取得部分胜利 #TON #PlusToken相关钱包转移ETH #美联储何时降息？ #BTC走势分析