December brought a reality check for US business expansion—activity growth hit its weakest point in half a year. Meanwhile, the cost side of the equation tells an even more pressing story: input prices have climbed to levels not seen in over three years. This combination matters for traders paying attention to macro dynamics. When business activity slows while input costs surge, it typically signals tightening margins and potential inflationary pressure ahead. Such economic crosswinds often ripple through asset markets, including crypto. Understanding these macro signals helps inform portfolio positioning as markets digest the implications of slowing growth paired with persistent price pressures.