Bitcoin Faces $97,000 Resistance Amid U.S. Economic Turbulence: Market Analysts Suggest Caution
By: en coinotag|2025/05/02 18:30:02
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On May 2nd, COINOTAG reported critical economic indicators reflecting the United States’ ongoing struggles with trade tariffs and escalating cost pressures. The ISM Manufacturing PMI plummeted to 48.7 , marking a significant five-month low, while the Prices Paid Index surged to 69.8 , the highest level since June 2022. Although the S&P Global Manufacturing PMI slightly decreased to 50.2 , it remains within the expansion territory. Additionally, Initial Jobless Claims rose to 241,000 , and Continuing Claims reached 1.916 million , nearing recent peaks. Analysts from Bitunix highlight that this data points to a manufacturing slowdown coupled with increasing costs and a softening job market, compelling the market to adopt a cautious stance regarding potential rate cuts. According to FedWatch, there is a 58% probability of a rate cut in June, contrasted with only a 5% chance in May. Amid these shifting expectations, Bitcoin’s resistance at $97,000 warrants close monitoring as market volatility looms.
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