Bitcoin preps 3% May downside, but US PMI data may boost BTC price
60-second summary
Bitcoin is poised to potentially drop by around 3% in May, as the market navigates a volatile period. However, a strong US PMI data release next week could boost the price of Bitcoin, potentially offsetting the decline. This dichotomy highlights the market's sensitivity to economic indicators, with a positive PMI reading potentially stabilizing the cryptocurrency.
Bitcoin faced ending May lower by around 3%, with the possibility of US PMI data giving BTC price action a boost next week.