Bitcoin preps 3% May downside, but US PMI data may boost BTC price
Summary
Bitcoin traded near $73,500 on Sunday after a quiet weekend, with May losses around 3% and price still stuck below 2025 highs. Risk assets got little support from easing geopolitical tensions or record highs in US stocks. Attention now shifts to US labor data and the May ISM Manufacturing PMI, which could add volatility and influence BTC if it continues tracking growth and risk appetite. Traders are watching for a monthly close above $73,000, with some seeing the retest as holding and a weekly close above that level as a step toward confirming a double-bottom breakout. Others expect Bitcoin to remain in a broad $60,000–$80,000 range for a while, as major weekly moving averages and support bands cluster nearby.
