According to The Kobeissi Letter, the 7-day moving average of arrivals at the top 10 US airports dropped 5% year-over-year last week, marking the largest decline seen in 2025 (source: Apollo, The Kobeissi Letter, May 19, 2025). This decrease in air travel reflects weakening demand in tourism, business, and government travel sectors. For traders, this signals potential downward pressure on travel and airline stocks, which could ripple through to crypto markets by dampening overall risk sentiment. Historically, sharp declines in transportation and hospitality metrics have preceded periods of reduced crypto trading activity, as investors become more risk-averse and shift focus to defensive assets.