Consumer sentiment in the US is fracturing along income lines. Over the past year, outlook among lower-income earners—those making under $50,000 annually—has deteriorated sharply, hitting levels not seen since early 2024. Even the middle-income bracket ($50k–$100k) is losing confidence, though the decline has been more gradual. This bifurcation matters: when purchasing power weakens among mass consumers, risk appetite typically contracts across financial markets. Less discretionary spending means tighter liquidity conditions. For crypto investors watching macro cycles, this divide signals potential headwinds for risk assets during periods of consumer pessimism, while also reflecting broader economic pressures that tend to precede market repricing.