The US December Manufacturing PMI is out at 51.8, slightly below the expected 52.1, and also down from last month's 52.2. The Services PMI performed worse, coming in at 52.9, compared to the forecast of 54.0 and the previous value of 54.1.

Both figures fell short of expectations, indicating that the US economic momentum is cooling. Manufacturing activity is slowing down, and service sector expansion is also losing steam. What impact does this have on the crypto market? Usually, an economic slowdown can boost demand for safe-haven assets, but it may also suppress risk assets. The next step depends on how the Federal Reserve reacts, as this will directly influence liquidity expectations.