The latest U.S. manufacturing data is influencing expectations around the timing of the next crypto market cycle.

The Institute for Supply Management (ISM) Manufacturing PMI rose to 52.7, its highest level since 2022. The index has now stayed above 50 for three straight months, indicating expansion after nearly three years of contraction, the longest stretch in more than a century of ISM records.

ISM Expansion Aligns With Past Crypto Rallies

The shift into expansion territory is drawing attention due to its historical alignment with crypto market cycles. The previous crypto bull run coincided with similar macroeconomic recoveries in 2013, 2017, and 2021.

These periods followed rising manufacturing activity and improving liquidity…