July PMI Index Hits 4-Year High, Fuels Crypto Optimism

Crypto investors are taking note of the latest US manufacturing data, which has provided a new economic indicator to watch. The July ISM Manufacturing PMI reached 55.6, exceeding expectations and remaining above the key threshold of 52 for the seventh consecutive month.

This reading is significant, according to Mark, who believes it could support stronger performance across risk assets. He highlighted that previous periods when the index remained above 52 coincided with major gains in stocks and cryptocurrencies.

Mark's analysis compared the current PMI trend with previous periods of strong market performance, specifically referencing 2017 and 2020 when the manufacturing index entered similar phases and cryptocurrency markets recorded major rallies. The chart shows the manufacturing index rising sharply during 2026 after spending an extended period below higher levels.