Cicada Crypto Signals

⚜MARKET MOVEMENT

Ethereum’s Open Interest by Put/Call Ratio has just flipped Bitcoin for the first time in the year and in total over 6 months. This is an event that most people could simply ignore, however, considering the circumstances in which it has just happened, it could mean much more than just “a curious event”

What could this do to BTC and ETH in terms of price action?

This event (as all the times it happened in the past) is likely to push BTC dominance lower, boosting ETH and alts towards new mid term highs and potentially confirming a new mid or even long term alt season.

ISM Manufacturing Index is basically a monthly indicator of the US economic activity measured by analyzing the supply chain. Also known as the Purchasing Manager’s Index (PMI). It measure the health of our supply chain which is also an indicator for growth and the health of the economy.

Also charted here is the 10Y Treasury minus 2Y Treasury or The Yield Curve. This bond spread has generally been considered advance warning of severe weakness in the stock market. The Bond market (T10Y2Y) typically leads this movement with the ISM index following closely behind.

So what’s our take away?
If history is any indication this is signaling a lot more downside for traditional markets. Its telling us growth will likely slow down (ISM coming down) and the economy is not going to be as strong in the coming year. What does this mean for Bitcoin? We can see that BTC has a history of following the same patterns as these market indexes; which is telling that we need to continue to be cautious as the macro backdrop is not looking healthy. With that said, we believe this next year and the coming months will represent the best buying opportunity for the next 10 years. price might be $42K, 50K or $29K

MARKET MOVEMENT

Around 2 Million ETH (totaling over $5 Billion) have been burned since the activation of EIP-1559. This is the main reason why ETH’s inflation rate has dropped well below BTC’s inflation rate for most of the last 7 months.

How will this affect BTC and the alt market?

This could be once of the most important catalysts for a decrease in BTC Market Dominance over the next 6 months, making ETH a dominating figure in the market once again, and taking alts to much higher levels along with it.

💎Buy #GRT/#USDT #LONG

✅Entry Zone: 0.32300 - 0.32570

Set take profit at:
☑️ 0.32800

🚫Stop loss : 0.32100

Leverage: 20x

#XRP 🔥🔥🚀

#DUSK/USDT

Dusk reach 0.32333!🚀🚀

We hit take profit target! 🎉☺️🚀🚀