The macro signal that ignited the 2017 and 2020 altcoin bull runs just flashed for the first time in 4 years. Analysis by @dangambardello 🧵👇 📊 The Data: PMI just crossed 55.6. Crypto is the absolute last domino to fall on the risk curve, and business cycle expansion starts here. 📉 Technical Confluence: The total altcoin 20MA is crossing under the 200MA. This lagging bearish cross marked the exact cycle bottoms in Mar 2019 and Jan 2023. Meanwhile, BTC is testing historic 50-month MA support. 🚨 The Falsifier: The Sept 1 PMI print. Real economic expansions require altitude, not a single monthly spike. If we slip back under 55 next month, the bull thesis is invalidated and sideways consolidation continues. Data over emotion. Are you positioned? #Crypto #Macro #Altcoins #Bitcoin