US September S&P Global Composite PMI Final Reading 58.4, Matching Estimates

The absence of any revision in the final print matters more than the level itself: it removes the ambiguity that usually surrounds flash PMIs and suggests the survey's signal was clean for the month. For macro-sensitive crypto and RWA desks, the takeaway is that this data point offers no new information to shift the rates or dollar narrative, leaving other catalysts to drive positioning. Whether the composite holds near these levels into the next release is the open question, since a softening would revive the growth-scare trade that digital assets have tracked closely.