A major divergence between the bullish S&P and bearish ISM manufacturing reports is confusing the market This conflicting macro data is a major headwind for a potential September crypto rally Analysts see Friday’s jobs report as the key “tie-breaker” that will decide the market’s direction This week marks one of the most eventful stretches of the summer for financial markets, with a series of US economic reports set to shape the Federal Reserve’s outlook on interest rates. For crypto traders, each release could mean swings in liquidity, sentiment, and volatility. S&P Global Manufacturing PMI Data One of the more notable metrics is the S&P Global Manufacturing PMI, a monthly report from S&P Global that provides a snapshot of business activity in the manufacturing sector. It has been running strong, climbing to 53.3 in August, which is its highest level since 2022. A reading above 50 indicates expansion, suggesting that factories are hiring, producing, and taking on new orders. This is also in favor of US dollars and treasuries, and as such, can put pressure on Bitcoin and other cryptocurrencies. Related: Three Reasons Bitcoin Could Reach $200K by La… The post September Macro Outlook for Crypto: Why Data is Key appeared first on Coin Edition .
