
This is what most people are ignoring right now. The ISM PMI is exploding. It has now risen to 52.6 today. Here is what it means for the market: Once the ISM moves back above 50, the economy shifts from contraction to expansion. That transition has historically marked the early phase of a new cycle, not the top. Risk assets tend to reprice upward first, with Bitcoin usually leading, followed by altcoins. This is how bull markets quietly begin. I’m not saying we’ve bottomed, just like I didn’t say we’ve topped. Whether you believe we’ve bottomed or not, keep this at the back of your mind.
