The ISM non-manufacturing PMI has historically been highly correlated with major highs in the Bitcoin market cycle - a pattern that, if repeated, could mean a longer cycle than usual.
The correlation between the ISM PMI and the Bitcoin (BTC) price ($111,582) was initially promoted by Real Vision's Raoul Pal, and subsequently gained recognition among macro-focused crypto analysts.
"The tops of the past three Bitcoin cycles have generally been consistent with this monthly oscillator," notes analyst Colin Talks Crypto, noting that there is a recurring overlap between Bitcoin market highs and the cyclical highs of the PMI.
If that relationship holds, Colin added, "it would mean that the Bitcoin cycle could last significantly longer than the historical average."
ISM Non-Manufacturing PMI Shows Bitcoin Cycle Could Extend Beyond Historical Levels
2025-10-25 20:01:32
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