PANews reported on October 9th that, according to Jinshi Data, the minutes of the Federal Reserve's September meeting revealed a deepening disagreement over the path of interest rate cuts. While most officials believed further easing this year was "likely appropriate," seven dissenters supported further rate cuts; only Governor Stephen Miran advocated for a one-time 50 basis point cut and dissented. The minutes noted that the government shutdown had resulted in a lack of key economic data, forcing officials to rely on private sector data and business feedback. A slim majority predicted at least two more rate cuts this year, with markets anticipating 25 basis point cuts in October and December . Powell emphasized the need to maintain a careful balance between the "two-way risks" of employment and inflation.



Bitcoin’s market cycles may stretch longer as ISM manufacturing data remains weak, hinting at extended macro headwinds and slower business recovery. The Institute for Supply Management’s (ISM) Manufacturing Purchasing Managers’ Index (PMI) has historically aligned with major peaks in Bitcoin’s market cycles — a pattern that, if repeated, could imply a longer-than-usual cycle this time around.The correlation between the ISM PMI and Bitcoin’s (BTC) price was first popularized by Real Vision’s Raoul Pal and has since gained traction among macro-focused crypto analysts.“All 3 past Bitcoin cycle tops have broadly aligned with this monthly, oscillating index,” analyst Colin Talks Crypto noted, referencing the recurring overlap between Bitcoin’s market highs and the PMI’s cyclical peaks.Read more