BitUnix analyst: Philadelphia Fed manufacturing index plummets, unemployment data shows stable labor market, BTC under short-term pressure at 86K pressure level

According to BlockBeats, on April 18th, the Philadelphia Fed Manufacturing Index, an economic data released by the United States, fell sharply to -26.4, far below the expected 7.2 and previous value of 12.5, indicating a sharp contraction in manufacturing activity. The new order index also fell from 8.7 to -34.2, hitting a new low since 2020, reflecting weak demand. However, the number of initial jobless claims dropped to 215000, better than the expected 219000, while the number of renewed jobless claims rose to 1.885 million, slightly higher than the expected 1.821 million. These data reflect the challenges faced by the manufacturing industry, while the overall job market has not yet shown significant deterioration. BitUnix analysts suggest that weak manufacturing data indicates concerns about economic slowdown, which may put pressure on risk assets. However, the stability of the labor market may limit the expansion of this pressure. Investors are advised to pay attention to the performance of BTC 83K's short-term support level. If they can hold onto the support, it may lay the foundation for a medium to long-term upward trend.