The US manufacturing PMI has historically been a good indicator for where Bitcoin's price is headed.
US President Donald Trump took investors by surprise last weekend when he directed his digital asset working group to create a cryptocurrency reserve that includes Bitcoin, Ether, Solana, XRP and Solana. After an epic pump, crypto markets reversed course within 24 hours, leaving Bitcoin on the precipice of a bearish trend reversal. Fear and trepidation gripped the markets, with investors wondering whether the bull market had ended prematurely.
A closer look at the business cycle reveals that the Bitcoin bull (BTC) market is far from dead. Things may be about to heat up once Trump’s trade war chaos gives rise to sensible trade policies with China, Canada and Mexico.
This week’s Crypto Biz newsletter explores Bitcoin through the lens of the business cycle and chronicles the market’s reaction to a multicurrency crypto reserve.
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