One of the longest ISM Manufacturing PMI contraction periods in U.S. history ended this morning with a breakout to 52.6, up 4.7 points from December. Past breakouts in 2013, 2016, and 2020 served as key catalysts for Bitcoin's major bull runs. This ends 26 consecutive months of contraction and signals the first expansion since early 2025. The ISM subindices paint an extremely optimistic picture: 1. New Orders surged 9.7 points to 57.1 2. Production rose 5.2 points to 55.9 3. Backlogs of Orders expanded 5.8 points to 51.6 4. Supplier Deliveries increased 3.6 points to 54.4, reflecting rising demand pressure 5. Prices only edged up 0.5 points to 59.0, showing contained inflation signals Historically, these PMI reversals mark the shift to risk-on conditions. This is good for 🟠.(Joe Burnett, MSBA)