Plan C posted on X. Bitcoin has never experienced a full and complete bull market while the Purchasing Managers' Index (PMI) remained below 50 throughout the entire period. This observation highlights the potential influence of economic indicators on cryptocurrency market trends. The PMI, a measure of the prevailing direction of economic trends in manufacturing, is often used to gauge the overall economic health. A PMI below 50 indicates a contraction in the manufacturing sector, which could impact investor sentiment and market dynamics. Understanding these correlations can provide insights into future market movements and investment strategies.