According to the source, weak U.S. manufacturing data could extend Bitcoin’s cycle by loosening financial conditions that favor risk assets, and traders should verify with the official ISM Manufacturing PMI and S&P Global PMI releases for confirmation, source: Institute for Supply Management; S&P Global. Sub-50 ISM readings indicate contraction and have historically aligned with declines in the 10-year Treasury yield and a softer U.S. dollar, both of which are tailwinds for BTC liquidity, source: Institute for Supply Management; Federal Reserve Economic Data (DGS10); ICE U.S. Dollar Index. BTC has shown a negative correlation with U.S. yields and the dollar in 2023–2024, so drops in DGS10 and DXY have tended to coincide with stronger BTC performance, source: Kaiko Research 2024; Glassnode research. Traders should monitor ISM new orders and prices paid sub-indexes plus post-release moves in DGS10, DXY, and CME FedWatch rate-cut probabilities to gauge near-term BTC direction and volatility, source: Institute for Supply Management; Federal Reserve Economic Data; ICE Data Services; CME FedWatch.