According to The Kobeissi Letter, the US goods trade deficit sharply declined by $74.7 billion in April 2025, reaching $87.6 billion—the lowest level since September 2023. Goods imports also dropped by $68.4 billion, hitting $276.1 billion, the lowest since October 2024, and marking the largest monthly decline on record (source: The Kobeissi Letter, June 2, 2025). This significant narrowing of the trade deficit could signal cooling demand and potential tightening of USD liquidity, which may impact risk appetite across crypto markets. Traders should monitor the USD's strength as macroeconomic shifts like this can influence Bitcoin and altcoin price trends through changes in capital flows and market sentiment.