ISM Manufacturing just dropped to 54.6 vs 55.2 expected.
Still expansion territory (above 50), but the acceleration story just got put on ice for a month.
We were tracking a potential grind toward 60—that would've been rocket fuel for risk-on. This print killed that momentum.
Not a collapse. Not a breakout. Just… meh.
Risk assets wanted heat. They got lukewarm water.
Watch how $BTC and $ETH react to this. If we can't catch a bid on decent macro data, that's a red flag for the next leg up.
Still expansion territory (above 50), but the acceleration story just got put on ice for a month.
We were tracking a potential grind toward 60—that would've been rocket fuel for risk-on. This print killed that momentum.
Not a collapse. Not a breakout. Just… meh.
Risk assets wanted heat. They got lukewarm water.
Watch how $BTC and $ETH react to this. If we can't catch a bid on decent macro data, that's a red flag for the next leg up.
