Bitcoin remained resilient in the face of challenging economic news and escalating tensions between India and Pakistan. The Dallas Fed Manufacturing Index recorded a significant drop, hitting its lowest point since the onset of the COVID-19 pandemic, triggering concerns about the economy.

Despite this gloomy data, Bitcoin managed to hold steady during U.S. trading hours after initially slipping. Major players like Coinbase and Stategy experienced declines on Monday while Janover and DeFi Technologies saw gains attributed to SOL accumulation strategies.

In other market movements, gold prices surged by nearly 1% while the dollar index took a 0.6% dip. After earlier losses exceeding 1%, both the S&P 500 and Nasdaq managed to end on a positive note by rallying late in the session.

The unexpected plunge of the Dallas Fed Manufacturing Index to -35.8 from -16.3 last month came as a shock, far below the anticipated -14.1 reading and marking its weakest performance since the pandemic emerged.

Bitcoin Holds Tight Despite Dismal Economic Data, Rising India/Pakistan Tensions

The Dallas Fed Manufacturing Index plunged to its lowest level since the COVID pandemic closed the economy.

• Bitcoin remained roughly flat during U.S. trading hours, reversing an early decline.
• After strong advances last week, Coinbase and Stategy were lower Monday, while Janover and DeFi Technologies have seen gains due to SOL accumulation strategies.
• The Dallas Fed Manufacturing Index fell to its lowest level since May 2020, reflecting significant economic concerns due to the Trump tariffs.

Adding to market unease were rising tensions between India and Pakistan following a terrorist attack in Indian-controlled Kashmir that claimed 26 lives. Pakistani Defense Minister Khawaja Muhammad Asif warned of a potential military conflict with India looming on the horizon amidst ongoing cross-border exchanges of fire between the two nations.

The Dallas Fed Manufacturing Index, a typically little-noticed economic data point, plunged to -35.8 from -16.3 last month — much worse than analysts’ expectations of a -14.1 print and the worst performance since COVID upended the world economy.

“Pretty horrible Dallas Fed Manufacturing Survey. Level hits the lowest since May 2020,” Joe Weisenthal, co-host of the Odd Lots podcast, posted on X. “All the comments are about tariffs and policy uncertainty. Add it to the list of bad soft/survey data.”

Hostilities between India and Pakistan might also have added to market jitters, with Pakistani Defense Minister Khawaja Muhammad Asif claiming that an Indian military incursion into Pakistan was imminent. Last week 26 people were killed in a terrorist attack in Pahalgam, a popular tourist destination in Indian-controlled Kashmir. The two countries have exchanged fire since.