PMI Surge Triggers Bitcoin Hopes Amid Rising Selling Pressure

A recent surge in the U.S. ISM Manufacturing PMI to its highest level since June 2022 at 55.6 has raised hopes of a improving economic backdrop, which could favor risk assets like Bitcoin.

An analyst notes that every time the PMI has sustained levels above 55, the crypto market has entered a major upside phase.

This signal is reminiscent of the setups in 2017 and 2021, when the total crypto market cap broke above $500 billion and $2 trillion, respectively, while Bitcoin rallied 1,336% and 59% in those periods.

However, this signal alone does not guarantee that Bitcoin will repeat the same move, especially with BTC still down more than 25% in 2026.