Markets received what nominally was good news on Thursday morning, with the U.S. July ISM Manufacturing PMI falling far more than economist expectations, sending interest rates to multi-month lows across the board. Also, U.S. initial jobless claims jumped to their highest level in about one year. Taken together, the data adds to ideas that the U.S. in on the cusp of a monetary easing cycle by the Federal Reserve – usually thought of as bullish for risk assets, bitcoin among them.
BTC Trades Within Descending Channel as CME Gap Gets Filled
Bitcoin is currently moving within a descending channel a persistent bearish structure that began on May 22, when it hit...
