US manufacturing PMI above 50 signals start of Bitcoin bull market, says analyst Plan C

Bitcoin analyst Plan C highlights that US manufacturing PMI readings above 50 have historically aligned with Bitcoin bull markets. April's ISM Manufacturing PMI rose to 52.7%, marking four months of factory expansion, supported by S&P Global's PMI at 54.5%, the highest since May 2022. Plan C argues this signals a capital rotation into risk assets like Bitcoin, challenging predictions of a major price drop. However, some analysts caution that PMI is not a perfect predictor and note mixed signals from institutional demand and economic factors. The next PMI release in June will be key to confirming this trend.