Bitcoin drops below $86,000 as September ISM Services PMI reports elevated price pressures
CIE News ·
Bitcoin traded between $85,600 and $85,950 after the September ISM Services PMI reached 54.9% while its Prices Index climbed to 74.0%, marking its highest reading since July 2022.
Bitcoin (BTC) traded between $85,600 and $85,950 following the release of the September Institute for Supply Management Services PMI report on October 5, 2026. The headline composite registered 54.9%, missing consensus expectations of 55.0% to 55.7% and falling 0.5 percentage points from August, according to PR Newswire.
The report showed the Prices Index rose 1.4 percentage points to 74.0%, marking its highest level since July 2022. Steve Miller of the ISM reported that the gauge has exceeded 70 percent in six of the past seven months. Verifiedinvesting.com noted that the upside surprise in prices paid dampened expectations of dovish rate moves ahead of the scheduled October 28 FOMC meeting.
Other sub-indices displayed mixed conditions across the sector. PR Newswire reported that the Business Activity Index decreased by 5.2 percentage points to 56.5%, while the New Orders Index registered 59.8% and the Employment Index returned to expansion territory at 50.1%.