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) is 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 a full year of contraction during 2025.

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