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US services PMI readings were due October 5, with possible Bitcoin volatility

A post said ISM’s 10 AM ET reading was expected at 55.7, up from 55.4 previously.

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1 Source, 2h ago, first seen 2h ago

TLDR

An October 5 post said S&P Global Services PMI was due at 9:45 AM ET, followed by ISM Services PMI at 10 AM ET. It expected the ISM reading at 55.7, up from 55.4, and suggested weaker-than-expected data could bolster expectations for a less restrictive Fed and support Bitcoin. Stronger data, it said, could lift Treasury yields and the dollar, putting short-term pressure on Bitcoin.

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7.3K

1 Source, first seen 2h ago

107 likes23 comments18 reposts

Combined views

7.3K

1 Source, first seen 2h ago

107 likes23 comments18 reposts

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Sentiment

Positive——Negative

Summary

Not enough discussion yet.

No sentiment analysis available yet.

1 Source

@MartiniGuyYT🇺🇸 US PMI data is coming up. S&P Global Services PMI drops at 9:45 AM ET, followed by the ISM Services PMI at 10:00 AM ET. The ISM Services PMI is expected at 55.7, up from 55.4 previously. For Bitcoin, the reaction will likely come down to what the data does to Fed expectations, Treasury yields and the dollar. A weaker-than-expected print could reinforce expectations for a less restrictive Fed, putting downward pressure on yields and supporting BTC and other risk assets. A stronger-than-expected print could push yields and the dollar higher, creating short-term pressure on Bitcoin. With BTC already highly sensitive to macro data, 10:00 AM ET could bring some volatility.2h
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    1 Source

    @MartiniGuyYT🇺🇸 US PMI data is coming up. S&P Global Services PMI drops at 9:45 AM ET, followed by the ISM Services PMI at 10:00 AM ET. The ISM Services PMI is expected at 55.7, up from 55.4 previously. For Bitcoin, the reaction will likely come down to what the data does to Fed expectations, Treasury yields and the dollar. A weaker-than-expected print could reinforce expectations for a less restrictive Fed, putting downward pressure on yields and supporting BTC and other risk assets. A stronger-than-expected print could push yields and the dollar higher, creating short-term pressure on Bitcoin. With BTC already highly sensitive to macro data, 10:00 AM ET could bring some volatility.2h
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