US housing starts picked up momentum in October, with single-family construction rebounding despite building permits cooling down. This mixed signal matters for crypto traders watching macro trends—housing data typically reflects Fed policy impact and consumer confidence shifts. When construction activity rises but permits fall, it suggests builders are working through existing backlogs rather than prepping new projects. That kind of hesitation often signals economic caution ahead. For the crypto space, housing cycles correlate with risk appetite and credit availability. A slowdown in permits could mean tighter lending conditions are starting to bite, which historically precedes capital rotation out of growth assets including crypto. Worth monitoring how this data shapes the next Fed communication and market expectations on rates.