Bitcoin Stalls Under $80K as US Manufacturing Sends Mixed Signals

Bitcoin has found itself in a challenging position, stuck under the $80,000 threshold, as the latest U.S. manufacturing data presents a robust 'risk on' signal, creating uncertainty for the cryptocurrency market. On February 2, Howard Lutnick, the U.S. Secretary of Commerce, stated, “The United States has achieved manufacturing growth, a testament to President Trump's trade initiatives.” This announcement has arrived at a particularly precarious moment for Bitcoin.

The recent manufacturing report is the most significant indicator of expansion since 2022, which could lead to potential liquidations within the cryptocurrency market. Investors are closely monitoring these developments, as the implications of stronger economic signals might prompt a reevaluation of risk appetites across various asset classes.