US business activity slowed in March, and the new PMI data delivered a warning that markets are starting to price in: growth is losing momentum just as price pressures pick up again.
That creates a pretty tough backdrop for Bitcoin to trade in. When the economy cools while inflation stays elevated, traders expect the Federal Reserve to keep interest rates higher for longer, which is a setup that usually negatively affects risk assets.
? Key Moments of the Match
23' - First goal by John Doe (Home team).
45+2' - Equalizer from penalty spot.
67' - VAR review disallows goal.
89' - Last-minute winner! Incredible scenes.