• The U.S. Consumer Confidence Index dropped 5% from Sep. 2022 to 102.5.
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• Households are still interested in buying big-ticket items like cars, houses, and expensive appliances, as they expect the Fed to ease interest rate hikes.
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• This interest in buying assets in the medium term could bode well for crypto assets, as it correlates with a change in macroeconomic environment.

Crypto markets turned bullish after a lower U.S. Consumer Confidence Index (CCI) of 102.5 was announced for Oct. 2022, following two months of straight gains.

The index, which tracks sentiments about how households view their future economic situation, is down from 107.8 in Sep. 2022.

Households still optimistic despite lower numbers

The Conference Board, a 501 (c) (3) non-profit think tank, publishes the CCI on the last Tuesday of every month at 2 p.m. UTC. Toluna, a market research firm, conducts the CCI survey. 

Source : Crypto Market Volatile After Drop in US Consumer Confidence Index (CCI)