Bitcoin Tests $87,000 as November ISM Manufacturing PMI Hits 48.2

Bitcoin rebounded to near $87,000 on Dec. 2 after U.S. ISM manufacturing PMI data showed contraction at 48.2 for November, the ninth consecutive month below 50, Bitunix analysts said. The cryptocurrency faces near-term resistance at $88,000 where short liquidation clusters concentrate, while downside support sits at $85,000 and $83,800 where long positions are densely positioned. Bitunix analysts noted that directional movement will likely be driven by liquidation density and macro sentiment shifts, with manufacturing weakness reinforcing rate cut expectations while potential Federal Reserve leadership changes introduce forward guidance concerns.