Bitcoin’s Bullish Momentum Faces Headwinds as Economic Concerns Mount

Bank of America has identified signs of weakening consumer spending, potentially signaling broader economic challenges. Its latest research reveals a slowdown in consumer spending across all income levels, according to its May 2025 Consumer Checkpoint report. This trend may reflect potential labor market weakness and overall financial strain on consumers. Credit and debit card spending growth is also slowing down, indicating a broader economic concern rather than a specific demographic issue.