ISM Non-Manufacturing PMI Indicates Bitcoin Cycle May Extend Beyond Historical Levels
Jinse Finance reported that the ISM Non-Manufacturing PMI has historically been highly correlated with the major peaks of the Bitcoin market cycle—if this pattern occurs again, it could mean that the current Bitcoin cycle will last longer than previous ones. The correlation between the ISM PMI and Bitcoin (BTC) price ($111,582) was initially promoted by Raoul Pal of Real Vision and later recognized by macro-focused crypto analysts. Analyst Colin Talks Crypto pointed out: "The tops of the last three Bitcoin cycles have largely coincided with this monthly oscillating index." He mentioned that there is a recurring overlap between Bitcoin market highs and cyclical highs of the PMI. If this relationship holds, Colin added, "it would mean that the duration of the Bitcoin cycle could be significantly longer than the historical average."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Premarket surge of 7%! Paramount plans to spend 1.5 billions USD to secure approval in California, potentially clearing obstacles for the 81 billions USD merger with Warner.
Paramount and Warner Bros. Discovery are seeking to reach a settlement with the California Attorney General regarding their proposed $81 billion merger. The proposed concessions include a $1.5 billion investment in California, commitments related to studio assets, film output, and CNN's editorial independence. Meanwhile, delays in the deal would cost Paramount approximately $7 million in "ticking fees" per day, putting time pressure on the settlement negotiations.
Swiss Franc recovery halts with SNB monetary policy coming into focus
Update: Google Fined Nearly $463 Million by Irish Regulator Over Location Data Processing
Crypto prices
More
