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US factory input prices rise, adding pressure to Bitcoin above $85,000
ISM data showed September manufacturing prices climbed to 77.9, while employment and new orders also improved, strengthening the case for tighter rates ahead of Friday’s payrolls.
US factory input prices rose more broadly in September, according to an October 1 Institute for Supply Management release, adding to expectations around interest rates ahead of Friday’s jobs report. CryptoSlate highlighted that the manufacturing prices index increased to 77.9 from 71.1 in August, a shift that could influence how investors position for rate cuts versus further hikes.
The same ISM report showed manufacturing PMI at 54.5, new orders at 55.3, and employment at 52.7. It also found higher input prices among 58.6% of respondents, up from 46.2% in August, using an index method that weights unchanged responses.
CryptoSlate noted that the rates debate matters for Bitcoin’s attempt to rally above $85,000, because resilient activity and widening cost pressures can complicate the argument for lower interest rates. The policy backdrop cited includes the Federal Open Market Committee’s September 16 quarter-point move that lifted its target range to 3.75% to 4%.
CryptoSlate also referenced remarks by New York Fed President John Williams on September 29, saying another upward adjustment might be appropriate late this year if economic conditions broadly follow. The piece stopped short of quoting outcomes for Bitcoin, but framed the data as a potential financing-risk headwind for the rally threshold mentioned.
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