We just had the data released, and again I will give my opinion, but remember that it is my opinion and I am not an ECONOMIST lol.

Here we go:

#BTC and #altcoin liked the data, because based on the data presented:

A PMI (Industrial) below 50 indicates a contraction in industrial activity. This data may suggest economic weakening, which generally increases expectations of interest rate cuts by the Fed to stimulate the economy (later this week).

The PMI (Services) above 58 indicates expansion, and the services sector is showing strong growth. This may lead the Fed to be more cautious with interest rate cuts, since the services sector has a significant weight in the US economy, however, I think that even with the Services PMI being above the projection, the FED will cut Interest Rates.

Despite the Bitcoin jump and some reaction from Altcoins, the results were well balanced, so lol, we don't need to exaggerate lol. We all want a rise here, but these results alone certainly won't do it. We still have more data and we should be cautious here. Bring it on tomorrow!

Overall, the expectation is positive, but this news will be used to hunt both sides. Be careful if you're using leverage! ✊🏻🚀