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Today's edition is brought to you by Stacks - the leading Bitcoin L2 gearing up for the largest update yet with the Stacks Nakamoto Release. |
Bitcoin is more than you think. |
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GM. This is Milk Road, we help you get smarter about crypto every day. |
Here's what we're serving up: |
BTC's 7-month streak is almost over 🚨 BTC seasons vs. Altcoin season 📊 Hong Kong had a rough first day at crypto school 💩 These indicators will show you the bull market top 👀 BTC ETFs see outflows (again) 🍪
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BTC'S 7-MONTH STREAK IS ALMOST OVER 🚨 |
They say all good things must come to an end… (learned that the hard way when they took away nap time after Kindergarten). |
Now, it looks like BTC's 7-month green streak is coming to an end. |
BTC is currently down ~12% this month, so unless it has a historic day today… it'll end up in the red for the first time since August 2022. |
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You know what they say though… April showers bring May flowers! |
P.S. - reply to this email with a simple 'yes' or 'no' if you think May will be a bounceback month! |
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| | Welcome to Bitcoin season 2. | With the rise of layer 2 solutions like Stacks (STX) at the helm, users are separating BTC the asset from Bitcoin, the settlement layer for a global Bitcoin economy. | Following a successful first phase of the Nakamoto upgrade, the Stacks ecosystem is preparing for the final Nakamoto Activation phase, which will ultimately bring fast block times and Bitcoin finality, ushering in a new era of security, usability, and utility for builders and users. | With advances like Nakamoto, L2s are enabling an economic flywheel around BTC through apps and smart contracts – unlocking a $1T opportunity for the Bitcoin economy. | Ready to join the movement as Bitcoin's season 2 heats up? Check out the top 8 Decentralized Finance Apps on Bitcoin. | |
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BTC SEASON VS. ALTCOIN SEASON 📊 |
Crypto is a lot like the weather - both have seasons and both are unpredictable as f*ck. |
Well, check it out. One of the best ways to see what 'season' crypto is in, is to check the Altcoin Season Index. |
How it works: The index compares the top 50 tokens' performances over the last 90 days with BTC's. |
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Right now, only 37% of the top 50 tokens have outperformed BTC - meaning, we're closer to Bitcoin Season. |
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HONG KONG ETF'S HAVE A ROUGH FIRST DAY 💩 |
The first BTC and ETH ETFs launched in Hong Kong yesterday. |
How'd 'Day 1' go? It was a day to remember forget. |
BTC ETFs saw $8.5M in trading volume ETH ETFs saw $2.5M in trading volume For a whopping total of… $11M
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Side note: For comparison, BTC ETFs in the U.S. saw $655M in trading volume on Day 1. |
We'll see if Hong Kong can bounce back. |
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PRO "WHERE ARE WE IN THE CYCLE?" INDICATORS 📊 |
Crypto moves in cycles, and knowing where we are in the current cycle is crucial for capturing the best opportunities. |
The goal is to spot the bull market peak before the inevitable bear market hits your bags hard. |
Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late. |
Here are the 5 indicators we track, with a color-coded system to show how close they are to signaling the market peak: |
🟢 Plenty of room to run still 🏄
🟡 Getting closer to the top signal, but haven't yet reached the mark ⚠️
🔴 We've hit the market top indicator 🚨 |
Every Tuesday, we update these 5 indicators exclusively for PRO members. |
Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point. |
Let's dive in and see if we're anywhere near the top of this bull market.👇 |
| GO PRO AND UNLOCK: | Full access to the 5 bull market peak indicators above. 👆 Our weekly reports that help you invest successfully in crypto. 💰 Full access to the Milk Road PRO community. 🫂
| | PRO REVIEW OF THE WEEK | |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
ZKX listed their top 3 NFT collections on Pyramid on Starknet: ZKX Yakuza NFTs, Clans, and PVL Badges. Trade them now for the first time — and enjoy future airdrops.* |
Bitcoin ETFs continue a 3-week outflow spree. Outflow she goes! U.S. spot Bitcoin ETFs saw $51.5M head out the door on April 29. |
Monthly crypto losses from hacks and scams in April hit a monthly-year low. This is a 141% decrease from March. |
A solo Bitcoin miner hit the jackpot with a $218,544 block reward yesterday. Fun fact: they're only the 282nd solo miner in Bitcoin history to achieve this feat. |
Coinbase Wallet is teaming up with Jupiter to power Solana trading. CB Wallet users can now tap into 20 liquidity venues & 80,000 Solana tokens. Retail (handshake emoji) Solana degens. |
MicroStrategy now owns 214,400 BTC (worth $13.6B). The crypto-loving software company holds ~1% of the entire circulating BTC supply. |
Wanna team up with the Milk Man? We currently have 5 positions open – check 'em out and apply here! |
*This is sponsored content |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |
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