October's US trade deficit just hit $29.4 billion—the tightest reading since June 2009. This came in well below forecasts and signals a notable shift in trade dynamics. For crypto traders and macro observers, this kind of economic data matters: narrowing deficits can indicate demand destruction or supply chain adjustments, both of which ripple through risk asset sentiment. When traditional markets reprices on economic surprises like this, alternative assets like crypto typically follow the broader macro narrative. Worth tracking how this influences Fed policy expectations and overall market liquidity in the weeks ahead.