#数字资产动态追踪 The US economy in 2025 is playing out a bizarre dual-track show.

The stock market hits new highs, and the accounts of the wealthy are growing rapidly, but the unemployment rate has risen to 4.6%, and consumer confidence among the lower classes has fallen nearly 30% year-over-year. Ernst & Young's analysis hits the nail on the head—this is not a recovery, it's a "K-shaped divergence." In other words: those who make money are getting richer, while those lacking money are finding life increasingly difficult.

Data speaks the loudest. The top third of high-income earners increased their spending by 4%, but what about the bottom third? Less than 1%. The gap is right there.

Interestingly, discount stores like Walmart and Dollar Tree have suddenly exploded in popularity. Among the 3 million new customers, 60% come from households earning over $100,000 a year—yes, you read that right, even the wealthy are starting to tighten their belts. What does this indicate? The pressure of inflation is felt by everyone.

Even more painfully, before tariffs fully take effect, retailers are already holding back on raising prices. Cost pass-through is inevitable, and Oxford Economics warns that the K-shaped divergence shows no signs of improving in the short term.

The problem is, this crippled economic train is concentrated in the hands of a few, whose consumption sustains GDP figures. What happens if this group stops spending? The prices of assets like $BTC, $ETH, and $DOGE will have to fluctuate accordingly. 2026 will be even more interesting—the real test has just begun.