Bitunix Analyst: ISM Manufacturing PMI and Employment Data Show Economic Weakness, BTC Short-term Pressure at $97,000

BlockBeats News, May 2nd, multiple economic data shows the United States facing challenges of trade tariffs and cost pressures: ISM Manufacturing PMI dropped to 48.7, hitting a five-month low; Prices Paid Index rose to 69.8, the highest since June 2022. S&P Global Manufacturing PMI slightly fell to 50.2 but remains in the expansion range; Initial Jobless Claims increased to 241,000, Continuing Claims rose to 1.916 million, both near recent highs.

Bitunix analyst suggests: Data shows manufacturing slowdown, rising costs, and a weakening job market, leading the market to adopt a wait-and-see approach to the timing of rate cuts. FedWatch indicates a about 58% chance of a rate cut in June, only 5% in May. Against the backdrop of slowing rate cut expectations, the market may experience volatility. It is necessary to pay attention to the $97,000 resistance level of BTC, implement risk management, and flexibly adjust positions to deal with volatility.