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GM. This is Milk Road, the newsletter that loves ending the week with some hopium. |
Here’s what we’ve got for you today: |
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Consensus Miami is one of the largest digital asset conferences that’s going all in on crypto and agentic commerce. Grab your passes at 20% off. |
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3 BULLISH CHARTS FOR EVERY CRYPTO INVESTOR 🤑 |
As we said last Friday, we like to find an excuse to send you off into the weekend with a big ol’ smile on your face. |
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So here’s our best attempt to do just that. |
Here are the 3 bullish charts every crypto investor wants to see right now. |
1. Bitcoin continues to rip |
This week, Bitcoin pushed above $79,000. |
This is its highest level since early February. |
In fact, BTC is up 24% since the start of the war. |
When the war started, most people expected the S&P 500 to fall and BTC to fall even harder. |
But something wild happened: |
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(Do you have a smile on your face yet?) |
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2. ETFs are following the same trend |
Instead of boring you with long paragraphs, here are the quick numbers: |
Spot Bitcoin ETFs recorded $2B in net inflows during an 8-day streak of positive flows. 8 of the last 9 weeks have seen positive net flows. Since the start of the U.S.-Iran war, the Bitcoin ETFs have pulled in a total of $4.5B.
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The takeaway: |
Institutions are still interested in Bitcoin. |
(Smile getting bigger?) |
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| Where do you go to hear people talk about crypto, AI, and real capital? | If you surface-level takes, then it’s probably in my group chat. | But if you want institutions with deep pockets, you’ll have to head to Consensus Miami. | Consensus Miami is one of the largest digital asset conferences that’s going all in on crypto and agentic commerce. | Here are the key details: | | The best part? | You can get an exclusive 20% discount on passes with code MILKROAD. | Grab your tickets at 20% off. |
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3 BULLISH CHARTS FOR EVERY CRYPTO INVESTOR (P2) 🤑 |
3. Crude oil is still below $100 |
This one’s the most important chart right now. |
When the Strait of Hormuz closed, there were a lot of estimates. |
“If the Strait of Hormuz remains closed till mid-April, we could see oil prices fly past $150.” |
But the highest crude reached was around $120 and now it’s back below $100. |
Here’s why: |
Markets are pricing in a potential U.S.-Iran resolution after the ceasefire headlines. |
When crude oil trades above $100, we call this the “stagflation zone.” |
If crude prices stay there too long: |
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So seeing oil below $100 is a win for risk assets. |
(You gotta be smiling now at least.) |
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Wrapping up |
The macro backdrop for risk assets still looks bullish. |
The main unresolved risk is the U.S.-Iran war. |
If we get a real resolution there, markets could have another leg higher. |
On that note, have a great weekend! |
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Latest update on the U.S.-Iran war. The U.S. negotiating team is now heading to Pakistan for a second round of Iran talks. |
“DeFi United.” This is a coalition of DeFi protocols that are recovering funds for the KelpDAO hack earlier this week. |
Ethereum Foundation sells ETH to Tom Lee’s Bitmine. A total of $24M has been transferred between the two parties. |
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MILKY MEMES 🤣 |
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