Beware! Tonight this data may become the "eye of the storm" in the cryptocurrency circle.
Investors in the cryptocurrency market, a significant "storm" is about to hit tonight! On January 6, 2025, at 22:45, the final value of the U.S. December S&P Global Services PMI will be released.
Some may ask, why is a services PMI data worth our attention? It is important to understand that within the vast system of financial markets, every key data point is a crucial factor that can affect the entire system, and this PMI data is particularly significant.
The previous value of 58.5 was quite strong, indicating that the services sector was previously in an expansion phase. Although no expected value has been provided this time, adding an element of mystery, it has also exponentially increased market attention. If the published value is significantly higher or lower than the previous value, it could create waves in the financial market like a boulder thrown into a calm lake.
The cryptocurrency market, being closely linked to the global economic situation, cannot remain unaffected. If the published value exceeds expectations, it may suggest a strong recovery of the U.S. economy, causing funds to flow from the high-risk cryptocurrency market to traditional financial markets, leading to a drop in cryptocurrency prices; conversely, if the published value is far below expectations, it may trigger concerns about the economic outlook, increasing risk aversion, and funds may flood into the cryptocurrency market seeking refuge, pushing prices up.
Regardless of the outcome, tonight at 22:45 will not be calm. All cryptocurrency investors must keep a close eye on this key data, prepare trading strategies in advance, and get ready to face the potential "storm" ahead.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.