Trans-Pacific freight flows are cratering. Latest data shows cargo movements from Asian ports to the U.S. West Coast just hit a 24-month floor—volume's been bleeding since early Q1.

What's driving this? The usual suspects: demand destruction, inventory glut at warehouses, retailers cutting orders. But here's the kicker for digital asset traders: when physical goods slow down, it's a leading indicator for broader risk appetite. Capital flows often mirror trade flows with a lag.

Yet some contrarian voices argue this could be the shake-out before restocking cycles kick in. Either way, macro headwinds like these tend to ripple through speculative markets. Worth watching how BTC and major altcoins react if this trend continues—historically, collapsing trade volumes precede volatility spikes in risk assets.