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Strong U.S. PMI boosts Bitcoin above $60k despite heavy selling pressure.

Market News
04 Aug 2026
AMBCrypto
View Source
Neutral
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The U.S. ISM Manufacturing PMI rose to 55.6, its highest since June 2022, signaling stronger economic activity that could support risk assets like Bitcoin. Historically, sustained PMI levels above 55 have coincided with major crypto rallies, though Bitcoin is still in a bearish phase, down over 25% in 2026. Despite increased selling from large holders and miners, Bitcoin remains resilient above $60,000, suggesting improving macro conditions may help absorb selling pressure. Investors are watching closely as this PMI data could influence market sentiment ahead of the September Federal Reserve meeting and potential rate hikes.

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