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Seasonal cycles are now on the side of the buyers by cryptonotes

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· @cryptonotes ·
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Seasonal cycles are now on the side of the buyers
![изображение.png](https://images.hive.blog/DQmRSBgfEe3RSSEAZnJcUjFK8Jprb5aKeru8mpsch2RWf2N/%D0%B8%D0%B7%D0%BE%D0%B1%D1%80%D0%B0%D0%B6%D0%B5%D0%BD%D0%B8%D0%B5.png)

**Daily Review**

- Crypto market capitalization: $0.941 trillion (+$9 billion);
- Dominance: BTC - 39.8%, ETH - 17.2%;
- Index of fear and greed: 20 (extreme fear) against 24 the day before.
 
Bitcoin on Monday, October 3, at the end of the day, bitcoin rose by 3%, to $19,629. US stock indices ended the first day of the 4th quarter positively. The S&P 500 rose 2.63%, the Nasdaq rose 2.27%. One of the supporting factors was a significant drop in treasury bond yields.

The correlation between bitcoin and indices remains high (0.75 over 90 days). Seasonal cycles are now on the side of the buyers. Conditions for the continuation of the correction are good. I also drew attention to one important factor that can accelerate the upward correction of the indices. Investors hedge with S&P500 futures put options against the collapse of the US stock market. It is unprofitable for those who sold options to have them exercised. According to statistics, options burn out in 75% of cases. In order for purchased put options to not be exercised, the market must be allowed to correct.

For bitcoin, apparently, a lot of put options have also accumulated and there will be a cancellation in the near future. Bitcoin remains above the 18000-19000 support zone. The dollar index is declining. Risky assets rise in price. Buyers need to break through to 21000. A technical breakthrough is needed.

On Monday, the ETH/USDt pair rose by 3.63% to 1323. Since September 21, Ethereum has been in a sideways trend. All cryptocurrencies move synchronously one after another, so the topic with indices applies to ether as well. Buyers need to gain a foothold above 1425 to continue the deep correction.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@cryptonotes/seasonal-cycles-are-now-on-the-side-of-the-buyers)
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