Two important pieces of data closely related to the cryptocurrency market, including Bitcoin, were announced recently. Macroeconomic figures released in the United States directly affect risky investment vehicles like cryptocurrencies. Accordingly, the US service sector Purchasing Managers’ Index (PMI) and the US ISM non-manufacturing Purchasing Managers’ Index were released.
US Service and ISM PMI Figures Announced
The US service sector Purchasing Managers’ Index (PMI) data came in above expectations, with the figure announced at 51.7, meeting the anticipated data. The US ISM non-manufacturing Purchasing Managers’ Index (PMI) data, however, came in below expectations at 52.1, whereas the forecast was 52.2.
While US macroeconomic data were below/above expectations, Bitcoin was trading at $65,891 at the time of writing. On the daily chart, Bitcoin trading below the EMA 21 (green line) and EMA 9 (blue line) suggests a negative short-term outlook. Macroeconomic data from the US play a significant role for risky investment assets.
