The New York Federal Reserve's latest inflation expectations data shows some interesting shifts in investor sentiment. Near-term expectations for the coming year have ticked up to 3.42%, compared to 3.20% previously—a notable uptick worth watching. Meanwhile, longer-duration expectations remain stable: both the 3-year and 5-year inflation outlooks hold steady at 3.0%, unchanged from last month. This divergence between short and medium-term views could signal market uncertainty around near-term price pressures, though longer-term inflation anchoring appears intact. For crypto markets, these macro signals matter—they influence everything from risk sentiment to real yield expectations across asset classes.