Bitunix analyst: Philadelphia Fed manufacturing index plummeted, unemployment data showed that the labor market was stable, BTC was under pressure in the short term, 86K pressure level

Mars Finance News: On April 18, the U.S. economic data showed that the Philadelphia Fed Manufacturing Index sharply declined to -26.4, far below the expected 7.2 and the previous value of 12.5, indicating a sharp contraction in manufacturing activity. The new orders index also dropped from 8.7 to -34.2, reaching a new low since 2020, reflecting weak demand. However, initial jobless claims fell to 215,000, better than the expected 219,000, while continuing jobless claims rose to 1.885 million, slightly higher than the expected 1.821 million. These data reflect challenges in the manufacturing sector, while the overall job market has not yet shown significant deterioration. Bitunix analyst recommendations: The weakness in manufacturing data shows 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 the BTC 83K short-term support level, and if it can hold the support, it may lay the foundation for a medium to long-term upward trend.