Germany's tax revenues took a hit in November, dropping 1.3% according to the finance ministry. This slowdown reflects broader economic headwinds across Europe. When major economies signal fiscal weakness, it often reshapes investor appetite across asset classes—including crypto. A contracting tax base typically signals weaker consumer spending and business activity, which can influence how institutions allocate capital during uncertain periods. Keep an eye on broader EU economic indicators; they often foreshadow shifts in institutional participation and risk appetite in the crypto space.