Bitcoin’s market cycles may stretch longer as ISM manufacturing data remains weak, hinting at extended macro headwinds and slower business recovery.
The Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) has historically aligned with major peaks in Bitcoin’s market cycles — a pattern that, if repeated, could imply a longer-than-usual cycle this time around.
The correlation between the ISM PMI and Bitcoin’s (BTC) price was first popularized by Real Vision’s Raoul Pal and has since gained traction among macro-focused crypto analysts.
“All 3 past Bitcoin cycle tops have broadly aligned with this monthly, oscillating index,” analyst Colin Talks Crypto noted, referencing the recurring overlap between Bitcoin’s market highs and the PMI’s cyclical peaks.
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