It's important to be realizing that things need to be put into perspective. The ISM Manufacturing PMI is heading into the first 50+ read in more than 3 years. It's been one of the longest 'bear' markets on that regard. Not great for the business cycle, and not great for #Bitcoin. The fact that Bitcoin rallied is simply and only due to the launch and liquidity of the ETF. By now, just now, is the moment that the markets start to wake up. Now, there's a lot of debate on the fact that PMI stayed positive in previous times and Bitcoin went into a bear market. Yes, for sure, because macroeconomic conditions entirely changed. Last cycle: - End of 2021 the FED decided to start QT and heavily increase interest rates. This time: - QE has started as economy is slightly getting weaker and decrease of interest rate. There's a reason why Gold and Silver peaked last week and that's due to the fact of the end of this macroeconomic period of time. In the coming 1-3 years, we'll see a strong, and final bull on #Bitcoin and #Crypto. Credits to @brett_eth for the chart.