Bitcoin (BTC) is experiencing selling pressure ahead of the release of U.S. ISM Manufacturing data. The cryptocurrency fell nearly 3% on Monday, breaching support levels. Analysts believe this is a typical pullback following overbought conditions. The ISM Manufacturing data, which is expected to show a contraction in manufacturing activity, could prompt another drop in Bitcoin if the reading falls below 48. However, a higher number could fuel a rally. Market sentiment for the fourth quarter remains optimistic due to expectations of a Federal Reserve interest rate cut and China's stimulus announcement. Fed Chair Powell's speech later today could provide insights into the Fed's plans.



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