#BTCโ This is HUGE. The same signal that triggered the bull run of 2017 is here. The ISM PMI came in at 52.7 today, crossing back above 51 for the fourth consecutive month. The last two times this happened were in January 2017 and September 2020. Both preceded multi-month altcoin rallies of historic scale. The ISM is an indicator of the U.S. manufacturing sector that measures economic expansion. When the ISM crosses 51, it indicates that the economy is generally expanding, liquidity conditions are improving, and risk appetite is coming back. Historically, that environment drives money into higher beta assets, and altcoins are the highest beta asset class on the planet. Now the level to watch is 55. Every time the ISM has held above 55, altcoins have experienced parabolic growth. We haven't reached that point yet. But the last two times the chart looked exactly like this, altcoin season arrived in a matter of months.
BREAKING NEWS: Bitcoin rose 4000 dollars in the last 12 hours and reached a peak of 74,500 dollars, while Ethereum (ETH) soared by 7.50%, reaching 2340 dollars.
More than 300 million dollars in short cryptocurrency positions were liquidated during this movement.
Today, more than 100 billion dollars have been added to the cryptocurrency market.#BTCโ