Bitcoin is trading between $62,200 and $65,000 ahead of a critical week of U.S. economic data. The ISM Manufacturing PMI came in at 55.6 in August, the highest since May 2022, with employment entering expansion for the first time in 33 months, reinforcing the Fed’s hawkish camp with three officials dissenting for an immediate rate hike. Four key indicators will be released this week: JOLTS on Tuesday, ISM Services on Wednesday, productivity on Thursday and the jobs report on Friday, which will determine whether the $62,000 floor holds or breaks. A soft Friday jobs report would allow Bitcoin to target $65,000 and $66,900, while strong figures would validate the hawkish case and push the price toward $61,200 and then $60,000.
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