Bitcoin ‘reflation’ bets diverge after US PMI breaks three-year resistance
Bitcoin price correlation with PMI sparked disagreement among analysts after the latter spiked above 50 for the first time since 2022.
Bitcoin (BTC) may be set to gain from new macro tailwinds as US macro data sets up a “reflation” trade.
Key points:
US ISM PMI data for January breaks nearly three years of contraction.
