Philadelphia Fed Manufacturing Index
Actual: 15.9
Forecast: -1
Prior: -4

Philly Fed New Orders
Actual: 18.4
Prior: 2.3

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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.)