According to @BullTheoryio, the US ISM Manufacturing PMI printed 47.9, a 14-month low and below the 48.4 consensus. According to the Institute for Supply Management (ISM), a PMI below 50 signals contraction in manufacturing activity. According to @BullTheoryio, the ongoing downtrend suggests risk assets like Bitcoin (BTC) and crypto may struggle to gain sustained bullish momentum until PMI rises back above 50.