US Manufacturing PMI Hits 2022 High as Bitcoin Spot Volumes Drop Sharply
A robust U.S. manufacturing PMI contrasts with a steep fall in Bitcoin spot trading activity, raising questions about macroeconomic effects on crypto markets.
BTC
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Terms & Concepts
Purchasing Managers' Index (PMI): An economic indicator measuring manufacturing sector activity, derived from surveys of business purchasing managers.
Spot Volume: The total trading volume of an asset in the spot market, representing immediate delivery rather than futures or derivatives trading.