US PMI breaks through three-year resistance level, analysts have differing opinions on its impact on Bitcoin's future.

PANews February 3 News, according to Cointelegraph, the US January ISM Manufacturing Purchasing Managers’ Index (PMI) unexpectedly rebounded above 50 for the first time since mid-2022. This data has sparked differing opinions among analysts regarding “re-inflation” trades and their impact on Bitcoin prices. Bitwise Europe Research Director Andre Dragosch believes that the PMI rebound is the result of significant increases in gold and silver, indicating the formation of a “re-inflation” environment, which historically has often been accompanied by Bitcoin bull markets. Trader Michaël van de Poppe pointed out that the PMI has broken above 50 for the first time in three years, but this is not necessarily good news for the business cycle or Bitcoin; earlier Bitcoin gains were mainly driven by liquidity from ETFs, and the market is only now beginning to react genuinely.

However, trader Titan of Crypto holds a different view. He compared the PMI data with Bitcoin price movements and noted that in 2013, 2016, and 2020, when PMI rose above 50, Bitcoin showed hidden bullish divergences, followed by bull markets; whereas this time, the PMI rebound is accompanied by a conventional bearish divergence. He believes that the same indicator but with a different structure could lead to different outcomes. The current data still leaves the US inflation path unclear, and the market worries that inflation may re-emerge in 2026.