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WHAT WE’RE WATCHING FOR THIS WEEK 📆

Every Monday morning, the Milk Road team gets on a call and argues about what's happening in markets.

Today (as always) we're letting you eavesdrop.

The market setup as we logged on: 

Bitcoin sitting at $77k, the S&P 500 showing green, and crypto doing its best impression of a confused toddler at a four-way intersection.

John kicked us off with a chart read. To him, this week looks like a clean rejection at the bull market support band (~$80k).

His view: "If the rejection holds and we lose $75k, then I would expect us to go back to $70k."

He's still got buy orders parked at $60k and $58k from weeks ago. But if Bitcoin slips under $70,000? 

"That's ‘back up the truck’ mode."

The bigger surprise was his macro call. John's not buying into the idea of a quiet summer (no "sell in May and go away" for this guy).

ISM data is accelerating. Trucking is at all-time highs. Data center buildouts are finally hitting the real economy instead of just balance sheets. 

He sees the S&P 500 making a run at 7,600-7,800 this summer, mostly powered by AI names.

Then, mid-meeting, Michael Saylor casually announced a $2 BILLION Bitcoin buy…

John's reaction: "He's out of his f***** mind." 

(In a good way). 

It's a real bid in a market where spot volume has been dead of late.

Which led us to the question we kept circling back to:

Why isn't crypto coming along for the ride right now?

WHAT WE’RE WATCHING FOR THIS WEEK (P2) 📆

John's theory on why crypto is stalling while the S&P continues to hit new all-time highs: 

Crypto was correlating just fine with the rest of risk-on assets until October 10th, when everyone got too leveraged and the market liquidated itself into oblivion. 

We never fully rejoined.

Add in $4T of IPOs lined up for 2026 competing for capital, people making life-changing money in AI names… and suddenly altcoins look like a worse trade.

This is where M0xt jumped in…

He's been selling his alts. Lighter (LIT): reduced, Aave (AAVE): gone. 

Not because he's bearish on blockchains - he thinks the fundamentals have never been better - but because he thinks the value capture happens somewhere else entirely.

His pick to win: crypto-integrated equities. Coinbase. Circle. Western Union. Tether (if it ever lists). 

The companies built on top of the rails, not the tokens themselves.

His broader portfolio strategy is "compounders" - stuff that grinds higher without heavy doses of hype.

Then we turned to Nvidia, which reports earnings this week.

Our AI researcher, Melvin, is not adding here. He's already long, but thinks AMD is the better play - as it's smaller and more agile.

His prediction: Nvidia will report stellar earnings, see a knee-jerk sell-off, then a recovery. Same script as last quarter.

So where does all that leave us this week? In short:

Alright - that’s everything for today!

Stay bullish. Stay sharp. 🫡

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The AI cold war summit: markets celebrated too early.

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