The Institute for Supply Management’s Manufacturing Purchasing Managers’ Index (PMI) historically correlates with Bitcoin’s market cycles, suggesting a longer cycle this time. ISM’s PMI has stayed below 50 for seven months, pointing to economic contraction. The rebound in business sentiment earlier in the year was dampened by tariffs and weak demand. Despite challenges, ISM noted that a PMI above 42.3 typically indicates economic growth.

Read more at Cointelegraph: ISM Data Hints Bitcoin Cycle Could Last Longer Than Usual