Markets received what nominally was good news on Thursday morning, with the U.S. July ISM Manufacturing PMI falling far more than economist expectations, sending interest rates to multi-month lows across the board. Also, U.S. initial jobless claims jumped to their highest level in about one year. Taken together, the data adds to ideas that the U.S. in on the cusp of a monetary easing cycle by the Federal Reserve – usually thought of as bullish for risk assets, bitcoin among them.