[Analysis] "US Purchasing Managers' Index still at low levels… Bitcoin bull market could be prolonged"

An opinion emerged that the Bitcoin cycle could be longer than expected when considering the relationship between the Institute for Supply Management (ISM)'s manufacturing Purchasing Managers Index (PMI), a major macroeconomic indicator, and Bitcoin (BTC).

On the 26th (Korean time), according to crypto-focused outlet Cointelegraph, analyst Collin Talks said, "The peaks of the last three Bitcoin cycles all coincided with the cyclical peaks of this index," and "If this relationship continues, the Bitcoin cycle could be much longer than is generally expected."

The ISM manufacturing PMI is an indicator that measures U.S. industrial activity. The indicator has recorded values at or below 50 for seven consecutive months, indicating that the economy remains in contraction.

Analysts say that when the PMI exceeds 50, signaling economic recovery, Bitcoin's price can also rise. Collin Talks explained, "Even while Bitcoin and S&P500 were hitting record highs, the PMI was still at low levels," and "If the PMI rises, Bitcoin's price could rise further."