$BTC $LSK US PMI data is coming, will the crypto market "take off" or "plunge"?đĽ
Family! Tomorrow night at 22:45 and 23:00, the US manufacturing PMI data will definitely be the "heartbeat switch" for the crypto market tonightđ A few days ago, Bitcoin just touched 100,000, Ethereum stood above 3,000, and many people are already shouting "bull market return", but this set of data could very likely give the market a "sharp turn"!
#ĺ ĺŻĺ¸ĺşĺč° First, let's talk about the good newsâ¨: If the US November ISM manufacturing PMI can rise from 48.7 to the expected 49, or even if the S&P Global manufacturing PMI final value exceeds 51.9, it indicates that US manufacturing is warming up, and economic resilience is stronger than expectedâthis will cool expectations of "Federal Reserve interest rate cuts", but it will also alleviate concerns about "economic recession", and funds may flow from safe-haven assets to the high-risk crypto market, Bitcoin might even surge to a new highđ
Now, let's look at the bad newsâ ď¸: If the PMI data is below expectations, especially if the ISM manufacturing PMI continues to be below 50 (the line of prosperity and recession), the market will immediately worry that "the US economy is cooling", and funds will frantically flee to safe-haven assets like the US dollar and gold, the crypto market is highly likely to "plunge", and previous gains may be directly given back, even breaking key support levelsđ§
#PMI More crucially, this set of data will directly affect the Federal Reserve's interest rate decision in Decemberâif the data is good, interest rate hike expectations will rise, putting short-term pressure on the crypto market; if the data is bad, interest rate cut expectations will ignite market sentiment, but it may also cause panic about an "economic crisis", leading to funds being hesitant to enter the market easily.
In fact, regardless of how the data changes, the current trend in the crypto market cannot avoid the "macro data" as the "conducting baton"đź What we can do is not to bet all our positions on the direction, but to keep some positions ready to respond to volatility, after all, in the crypto market, "surviving" is more important than "making quick money"!
#ĺ ĺŻĺ¸ĺşĺĺźš $ZEC