Diverging signals from U.S. manufacturing data in January paint an interesting picture for macro investors. The Philadelphia Federal Reserve Index stayed in expansion territory, signaling resilience in the Northeast manufacturing sector. Meanwhile, the Empire State Manufacturing Index slipped into contraction, reflecting weakness in New York's industrial activity. This split between regional employment trends could shape sentiment across risk assets. When manufacturing momentum fragments like this, it often signals broader economic uncertainty ahead—something worth monitoring closely for crypto markets sensitive to macro headwinds.