Altcoin Rally Pauses as Manufacturing Data Signals Economic Slowdown
The altcoin market has hit a pause, with its total capitalization hovering NEAR $1.16 trillion. This cooling-off period follows the release of weaker-than-expected U.S. manufacturing data, which has dampened expectations for an imminent altseason.
The ISM Manufacturing PMI for November came in at 48.2, missing forecasts of 49 and remaining in contraction territory. Historical patterns suggest robust altcoin rallies typically occur when this indicator surpasses 55, as seen during the 2017 and 2021 bull markets. The current reading suggests macroeconomic conditions aren't yet conducive to sustained altcoin momentum.
Market observers note that all manufacturing components—from new orders to inventory levels—continue to show weakness. This broad-based slowdown is delaying the cyclical conditions that traditionally fuel altcoin seasons, leaving investors waiting for stronger economic signals.
