Philadelphia Fed Manufacturing Index

Actual: 15.9

Forecast: -1

Prior: -4

Philly Fed New Orders

Actual: 18.4

Prior: 2.3

--------

FYI

Philly Fed metrics front-run ISM Manufacturing, which is--at long last--beginning to heat up in 2H 2025... after nearly three years of contraction.

This is Burner #2 beneath the bitcoin price cauldron. When it finally starts to heat up, so too will the fiat price of bitcoin.

(Burner #1 is Global Liquidity. Burner #3 is Leverage.)