Three bullish signals hit at once: is the bull run back?

Transcript

I still think that there's a reasonable chance that may be the bottom, but I also don't expect a a strong sharp V-shaped recovery. I don't expect us to wake up in two weeks and be at 100K, right? >> What's up everybody? It's LGD here and welcome to the Milk Road Show, the daily crypto show. They can't decide what would be worse, getting beat up on the front lawn of the White House, or getting beat up by this crypto market for the last 10 months like we have been. Today is June 15th, 2026, and we are pumping. The beating is done. The war is over for the 11th time in 11 weeks, and the market is back off to the races. And the great SpaceX liquidity suck has come and passed and the market has totally shrugged it off and SpaceX is trading at $175. Wow, not exactly

what we expected. Anyways, we're going to talk about all that and more this week. We're back on our normal Monday episode with me and John Gillan. Today's episode is brought to you by BitGet Stocks 2.0 with real liquidity, real dividends, Nexo, earn interest, borrow and trade crypto, and Cali where your takes finally pay out. Okay, John, how good was your front row seat at the UFC fight last night at the White House? >> I was not at the UFC fight at the White House. Um, but uh yeah, we've taken quite a beating in the last 10 months. So, I'm hoping that's coming to a close here. But yeah, >> would you have gone would you have gone if like Milk Road had like a journalist seat or something like that?

>> Yeah, absolutely. If I was getting paid to be there, for sure, man. But like I'm not a UFC fan. I have nothing against any of these. I don't I don't want to get involved and find all the controversy what's going on. I I've just never been a sports watching fan. Um except for the Knicks recently, but um yeah, I I don't know. I I I think that they, you know, I'm I hope I hope both teams had fun. >> Yeah, I think some people got beat up, but uh it definitely looked like fun. You know, my favorite part was actually I saw a highlight from earlier in the day where they just had motorcycles going over jumps uh in front of the White House. I thought that that was pretty sick. That's a little bit more more my kind of flavor. Anyways, John, um it has been 72 hours, I think, since

we last spoke, since we hosted uh for anybody who missed it, John and I co-hosted with OKX a mega SpaceX spaces to basically watch this the the price of the stock as it as it went live. And before you start rolling your eyes, be like, "Don't start talking about SpaceX. I just want to hear another show about crypto." Uh SpaceX is a crypto company, okay? They hold a ton of Bitcoin. Uh X is going to have crypto payments at some point soon. Whatever. Anyways, John and I uh had a great time Friday morning hosting with OKX who asked us to host this little stream with them with a lot of other uh crypto celebrities as well.

And surprise surprise, John, we're just talking before I didn't even know the price was holding at 175, which is which is completely insane. Is that what you did you think that was going to happen? I thought we all thought that we'd be in the total red by now. >> That is what the per markets were anticipating preipo pricing. That was what the market was pricing in. And it seems like that's just been a continuation of that price action. So like although the IPO did not happen until you know what was it Thursday, Friday, whenever it happened um that that yeah that that price was predicted by the per markets before that go live and that live trading on the exchange.

Um and then what we're seeing now is just kind of like a continuity of that price action that trading action. So, I think that is uh a really strong indication that the price that we're seeing being set by the markets on these per um different per exchanges prior to the IPOs is a pretty reliable indicator of market demand and market pricing and it's a much more accurate underwriting of the value of the asset than the professional underwriters at Morgan Stanley or Goldman Sachs are able to do or JP Morgan. So yeah, I think uh that's there's a lot of interesting things about this, but it's a really strong validation that the purpose markets are uh getting robust volume and doing a great job at pricing these things out.

Um and yeah, we'll we'll see if this holds. I mean, I think that as you're seeing SpaceX add its indices and like, you know, eventually there'll be private, you know, private IPO, uh preo private equity that comes onto the market. There'll be some fluctuation in this. I don't think it's just going to like hold this price level or just go up only by any means, but um I'm not sure how that'll play out all exactly, but it's just it's interesting to see the accuracy of the per markets be like verified by the the live trading markets. Now, >> is this I mean, is this bullish for the next two IPOs? >> Yeah, I would say so. I think that it shows that, you know, the the like the the thing that a lot of people were saying coming into this was that it was overvalued at $135 and that, you know,

like the sharp analysts were saying they were going to get interested buying it at $90, which now seems laughable because that's like a 100% drop from here, but or 50% drop from here. But yeah, so that I think shows that the market is trading off of a lot of speculation, euphoria, and not so much off of the sound fundamentals of the business. I think SpaceX has an enormous total addressable market that it's going for and a lot of advantages to it. Um, it's it's a lot of different businesses rolled into one. It's kind of a hyperscaler. It's a social media platform. It's a interplanetary travel thing. It's energy companies. It's all kinds of things. So, I think that that's what the market is valuing, but it's not necessarily valuing that based off of where that business is today. And it's also a call option on Elon Musk in the

future. So, um, yeah, there's a lot of things that the market's pricing in and it's difficult to underwrite those because it's such a unique company and it's such an anomalous offering. Um, but I think that that is the big takeaway for me is that it seems to be that the market there's a lot of capital in the market first of all that's seeking risk allocation, exposure to things that it doesn't already have exposure to. And I think that this shows that these IPOs are going to be like continue to be oversubscribed. There's going to continue to be a lot of speculation. And I think there's a lot of people who feel very strongly one way or the other about some of these things. People are very either pro or anti Elon Musk. They're very either pro or anti-anthropic open AI, but there's a lot of capital that

those people have as well, and they want to articulate that thesis. And, you know, the stock is the most direct way to do that. So, I think we're going to continue to see sort of, you know, at at the the upper ends of these market cap stocks, these equities, an articulation of this thesis of speculation, um, and a continuation of overvaluation as capital continues to seek to get exposure to that. So, that'll likely continue, I think, as these next two IPOs play out. And it'll be interesting to see if we see a similar kind of like, you know, liquidity drag leading up to them and then like an unleash of liquidity afterwards because I think that's what's happened here is a lot of people got liquid took some, you know, chips off the table wondering, you know, like either to get a position in the IPO or

saying maybe this is a top, maybe things will sort of like collapse from here. When that didn't happen, when the IPO opened so strongly, I think now you're seeing a lot of people rotate out of cash back into some of these positions. And so you're seeing a lot of things do well. Crypto's included in that, by the way. like crypto's up um I think Ethereum's up 7 or 8%. Bitcoin's up near 67K again, which is about 7,000 off the lows. So there there's been a resurgence of capital coming back into the markets. I'm I'm not sure if we'll see that same pattern for the next IPOs, but I do think it shows that there is a lot of capital that's seeking exposure to these risk assets. A lot of people want to articulate their thesis, so I expect this to continue in these next IPOs.

>> Do you fancy yourself an analyst andor a content creator in this space? Well, we want you. Specifically, if you live and breathe tech equities, Milk Road could be the home for you. We're hiring for two positions right now, analyst and content creator. So, check out the careers page below. And just to clarify, as of right now, Ethereum is up 10% today. So, not not nothing, man. Not nothing. Although, we've seen days that that have been the reverse lately, but still pretty good. Still not nothing for for our dear old E. Back up to 1837 right now as we're as we're talking.

John, very exciting. Um, John, would you say would you say in moments like this and I'm thinking obviously I'm thinking on a smaller scale coming from crypto coming from, you know, when uh when there's going to be an ICO that's going to open at a, you know, billion dollar market cap or something like that. Literally a fraction of what we're talking about with SpaceX. Um, but judging but kind of taking from that experience, you'll have the market kind of hold its breath and save liquidity and then regardless of what happens, pump back into something, right? So would you would you say it's fair to say that maybe because the SpaceX price didn't crater that it was actually pretty accurate to what people thought that now participants are seeing the market as

kind of back on track and obviously there's a much there's a much different reason as well that may be attributed to this market pump. Um but specifically staying on like the liquidity SpaceX side that it's like there wasn't this implosion. It has opened at the value that we assume that the market assumed and as a result it's time to go. you know, it's time to try to put your liquidity back into the market because the dip that you anticipated didn't happen. So, now let's go back in. Is that is that a simple enough way to put it? >> I would say that's a fair way to read it for the moment. Obviously, it's only Monday. We'll see what happens the rest of this week. But, it seems like there's a lot of capital that that thinks that like, okay, we didn't put in a top. This

didn't crater the market. This didn't just like drop to $90 immediately on open. it it shot up in the other direction quite strongly and decisively and is holding there. Um so it does seem to be a signal to the market that okay the bull runs intact, things aren't going to stop. The music isn't stopping. Um and and so it seems like back back to the bullish tilt. I think that's what you've seen kind of across the board in in risk assets and just the markets in general is a tilt back towards bullishness back towards um you know a continuation of the bull run and a repositioning into things that had sold off weak and shown weakness prior to the IPO. So that's that's my read of it right now. I also think that there are a lot of people who are um you know taking

in sort of into account this projected expected announced end to the conflict in Iran that the deal on that is supposed to be signed on Friday. Worsh is supposed to have his FOMC meeting on Wednesday. So whether or not they actually get the deal, Wars is able to go into that FOMC meeting this week and say the conflict in Iran is over. Uh the oil crisis is over. there's a an expectation that this energy inflation shock will pass and we don't need to be super hawkish right now. So, that will be stimulative, I think, for the bull run and positive for risk assets. Um, if if he does come out with a not necessarily like a a full-on dovish tone, but just not a rate hike, not very like extremely hawkish, but we'll see how that plays out. I just think that

there's a lot of things that kind of lined up this weekend that that kind of tilted in the bullish direction, and you're seeing that reflected in the markets. Is is is the war over? Like is it like literally you and I have made this joke so many times that I feel like we're in some kind of time warp. Is this for real this time? Trump is going to Europe for the G7. They're supposed to sign some kind of peace deal or whatever and I don't know where they are, Switzerland or Hungary or wherever they're going to be. Is this is this for real this time? It seems to be also like not to like get political again, but Donald Trump was giving handshakes after the the UFC fight in the ring at 1:00 a.m. in Washington DC. At 3:00 a.m. he got on a plane to go to France for the

G7 summit. So, he's, you know, working hard for whatever else he's doing. Um, and I'm curious to see what comes out of this G7 meeting, if there's any, you know, major changes to trade relationships, negotiations. You know, there's been a lot of talk and speculation about the US contributions, fiscal comp contributions to NATO and defense spending in Europe and so forth. So, we we'll see how these things play out. Um, but I'm I'm watching that. I think that the end of the conflict in Iran seems to be what's happening. I think Trump badly wants this to be over. I think the Iranians do, too. I think neither one of them wants any more pain on this. I think for a long time, you know, like there was this operation project freedom where we got like a 100 million or so, maybe more than that, barrels of oil through the strait with

US Navy, you know, like kind of shephering ships through. Um, and then the Iranians have also been, you know, running the blockade with with some oil as well. The Chinese have cut their consumption by a lot. The US has increased its exports by a lot, about 5 million barrels a day on each side. And so I think net net like we've sort of seen the worst of this crisis. We've also sort of like gotten around the problem a lot of in a lot of ways. Um and so I think that the the worst of that is behind us. It does seem like the conflict is ending. It seems like both sides are intent on this concluding.

What I understand of what's been negotiated so far is a 60-day agreement of cessation of hostilities. Iran is allowed to uh sell its oil without uh any incumbrances of of sanctions for 60 days. And then the things that still have to be worked out are it seems in general they've agreed to like Iran not having a nuclear program. But it seems like the United States still wants to go in and recover the enriched uranium like the nuclear dust that's there. That hasn't been worked out yet. That could be a sticking point. We'll see how that gets resolved ultimately. But yeah, so it it's supposed to be like a 60-day agreement and it does seem like both sides want this to be over in some way.

So I don't know. It seems like we might actually have it this time and you know until we hear otherwise I think you you proceed with that assumption. Um but yeah, I think it's it's very bullish in general that this is finally coming to an end. >> Last question for you about about well maybe not last question but while we're not talking uh non-crypto things al although there's only so much to talk about crypto this time because we have been so close to this we I'm not even I'm not involved. We've been so close to this peace deal for so long. We joke about it every Monday. We're we're looking good. Every Friday after close, there's some new strike, something goes down.

Has the and the market for two and a half months now has been basically up only up until the last two weeks. The last two weeks were red and now we're we're looking really green today. And this is specifically talking stock market S&P. Has is what's the possibility the market has priced in this peace deal? I and I don't mean obviously it's it's reacting to it or that's the assumption, but that it's been so close for so long that the the the chances of it completely reverting back the other way to be like, "No, there's no peace deal. It's going to be a conflict for months and months and months seems so unlikely for the last four weeks, right? That it do you think the market has already anticipated this?"

>> Yes, I do. But what I think the market hasn't fully priced in yet is this big question mark of what is Kevin Worsh going to be like as the chairman of the FOMC. And the reason why I think this matters is that this gives Worsh cover, right? Regardless of what details finally get agreed to of this, this gives Worsh cover to say that the energy shock, the energy crisis from the closure of the Straight of Hormuz is ending and that inflation expectations should be tilting down. um and to maybe you know not be so hawkish here because I think a a rate hike from the Fed either at this meeting or the next would definitely throw a little bit of cold water on some of this bullishness and I think the markets wouldn't wouldn't like that. Um and I think Wars and this

administration have been clear about trying to align around more lacks more more um accommodative monetary and fiscal policy in general. So yeah, I think that what we're going to see here is the market pricing in and like reacting positively to a more dovish tone from the Fed, a more dovish Fed chairman hopefully. Um, but I think the rest of the board of governors tilts hawkish right now and this gives Worsh a little bit more ammunition to go in and say maybe we don't need to be. And in addition to that, we had this recent jobs report which is very strong. So even though I think that there are continuing and serious concerns about sustained and continued inflation or you know weakness softness in the job market, it doesn't seem like right now that's what's reflected in the data. So it gives worse cover to be more dovish

in the meeting on Wednesday. And that I think is bullish for the markets and I think that's what people are are pricing in now or reacting to now, not necessarily the the war being closed because I do agree it's been priced in six or seven times by this point. The market has tried to like price in the end of the war. Um, so yeah, I think I think most of that's done and but but Wars being more doubbish is not and I think that's bullish. >> Everyone's tokenizing stocks these days, but almost nobody's doing it right. Thin liquidity prices that drift from the real thing, dividends that just vanish, Bit Stocks 2.0 is different. Real NASDAQ and New York Stock Exchange depth through licensed brokers, prices mapped 1:1, dividends paid to your account in real time. Plus, you get the lowest fees in the market at just 0.04%.

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usually reserved for loyalty program members. Get started at milkroad.com/nexo. How much do midterms start to come into play now? Because I feel I feel like to me, at least in my time doing this show and and learning a lot from you and and learn learning a lot from a lot of our guests who um who zoom out a lot more and think about the bigger picture in the economy, we're it always feels like we're kind of either we're talking about the thing that's happening now and the next thing that's going to happen both in terms of like more populist kind of headlines and also like actual macro factors. And now it's like we've kind of, you know, if the war is over and the SpaceX IPO is done and it's holding around this price, those are two big ones that we didn't know what the

outcome was going to be. And those are those are pretty determined now. And then the next things are yeah, like what is Kevin Worsh going to do? What what are going to happen with rates? That feels like that is going to be the story now for anything that is finance related is like that's the next thing we're moving to. And then after that, what's even next is is there's two more IPOs are supposed to open at a trillion dollars. There's midterms and there's just I guess more FOMC meetings, right? And I guess maybe the potential for more conflicts, which is always the doors always open for that in this in this uh administration.

>> Yeah. Well, that's that's optimistic. Um Yeah. >> That's true. >> Yeah. Well, it could happen, but I think Yeah. Right. But I Well, Cuba won't be a conflict if >> Yeah. It won't be. Yeah. Yeah. Won't be the same. Won't be won't be the same kind of conflict. Yeah. >> Cuba will be kind of like one flag comes down, one flag goes up and then somebody >> it won't be as disruptive to an area with a ton of resource and resource refinement. Put it that way. That that is, you know, really important for a lot of other countries. You may have to restate the question for me because I I I think I may have lost it in this. But I think that what Trump is thinking about going into this midterm cycle is the K-shaped economy where the top half of the economy, not half, it's more like

an eye. It's like that there's there's a very small number of very very rich people who are getting way way more wealthy and then the rest of the economy is falling very far behind. Uh and not even the economy, the population really, right? So, like I think what this comes down to is trying to do things that really move the needle for people in that lower part of the economy. Um, I think it's already a little bit too late. Like the PR of this, we've minted a trillionaire and like there's there's a lot of things that just don't look good through the public perception that kind of help Trump's opponents in the midterms. Um, but if he can get uh oil prices to come down, gasoline prices to come down, you know, food prices to come down, he's trying to relax tariffs on beef and other things. He's trying to

help with some of these things to like impact things for the rest of the American population. If that comes through, if that starts to be felt that can maybe help with that situation, but ultimately I think his plan is to run it hot that involves the rich getting richer in many ways and this continued um you know bull run in AI because they view this as existential and like a matter of national security. I think that the the directive that you saw about um you know a prohibition on the use of Fable 5 from anthropic shows it just validates that right like the US government views this as national security level piece of technology that's like vital to our economic and um you know just political viability as a as a a world power. So they're going to do everything they can to stay

supportive of that. At the same time they also have to find a way to try to help the lower you know portion of the economy of the population. those are sort of somewhat competing objectives. So, he's got things he's trying to do in in both directions there. This Iran situation really derailed a lot of that. Um hopefully, I mean I mean if you're Trump, you're hoping that this has all concluded in enough time for some of these things to revert for the the people to to feel positive impacts of these things and to change the optics and the the story around these things before the midterms. So I think it's going to be but all that's constructive right for for people who are investors for people who in the economy is like the the the the chief executive of the United States is trying to make everyone

feel happier and wealthier in the next few months as much as he can with all his power. Um and so that should be bullish and I think just generally good for for for outcomes for the general population. So we'll see how it all plays out and what he does because he could still pull some more tricks out of his hat. You never know what's going to happen with this guy. Yeah. >> Would a would a defeat at the midterms be worse for stocks or for crypto? >> Oh man. Uh probably for crypto. I feel like if we don't if Yeah. If if a defeat at the midterms happens, I think it'd be worse for crypto because crypto is the thing that needs some sort of like congressional action to get more regulatory clarity and accommodation uh for for continued investment and more products and services to to be welcome

in this jurisdiction and in others. So, I think that that because that that kind of kills the Clarity Act, right? Like the Democrats are never going to pass that then. Um, and it seems like the Clarity Act might already be dead. So, yeah. So, I think it would be worse for crypto overall. >> It's so dead that I completely forgot to mention it in my list of upcoming factors. >> Yeah. Yeah. It's It's a little dead. It's It's one of It's still around, but it's like I don't I don't It's not going over the If it was going to go through, I think it would have by now. >> Yeah. Right. Yeah. Okay. So bad like in general a a weakened Trump admin bad for crypto worse than for stocks because stocks at this point kind of and this is where we're discussing this in our creator meeting this morning

as well is that stocks with the government potentially uh I guess buying a stake in these companies which maybe you can explain that to me a little bit more um it's it's becoming more a matter of national security and it would it wouldn't really make sense for the next administration which wouldn't be for another couple years but even even you slight swing of power at the midterms wouldn't really make sense to like fully dismantle that. Uh considering it's it's a much bigger picture than than um I guess crypto. Although crypto is a big picture, too, but but a little bit different. >> Yeah, I don't think they're going to do anything to disrupt the bull run in and AI stocks. Um but uh I mean like not on purpose, but we'll see. I don't know. We we'll see how that plays out. But I do

think that this idea of uh you know American f the federal American government taking some sort of ownership stake in tech stocks in AI stocks you know Trump did this a little bit with Intel already. They're starting to normalize this. >> I don't think it's a good thing. I don't think it should be done. But it seems like now they're just fighting over how they do it and how much to take. Um so I don't really to be honest I don't really want to speculate too much about all of this stuff. I just think it's a bad mistake. It's a bad policy precedent. Um, and it starts us down a road that I don't think is good to go down for for anybody, for the for the stocks, for investors, for American public, for American capital markets, for all these things. Um, but yeah, we we'll see what

happens there. I think it's this is going to move in the direction of Trump's sovereign wealth fund, which again, you could dispute whether or not Americans should have one of those, but um, >> yeah, it seems like the direction that we're going in, >> right? Yeah. And there's already and these companies have also committed so much capex already too that it's not a change in the midterm is not going to change the trajectory of what these these businesses and the hyperscalers are actually doing. Um John I do I do want to save a couple minutes to talk about crypto. I know there's only so much happening uh at the time besides uh just watching prices. Although you are a permable you're always giving us a lot of great reasons to be excited about crypto. Um today honestly is a good day to get excited about price. I don't

think we've seen this big of a pump uh in a week in a while where we bounced off just below that last bottom. So just below 59K which was I think a week ago or a week and a half ago. Um now back to like 67. There's alts going off man. Like not just ETH and Salana both up 10 11% today. Um but a lot of the hot narratives from the last couple months also coming back. Uh Zcash all the way back up. I think Near is back up. I think a lot of the privacy tokens, the AI tokens are ripping. Is this John to you a a a bounce before another big leg down or is this a are we is this a proof that maybe we're going to consolidate in this range?

>> I think that the market still has to prove one way or the other what this is. I think so. First, you called me a permable. I think that's an impression that I give. Um but that is not the case. Um, I think I have I think for the last 10 months I've been pretty clear about calling price targets and levels and saying we're in a downtrend. I I said when we entered a technical bare market, um, and you know, look, we we made these lows in February, the entire time the market spent like 110 days climbing a wall of worry, inching higher and higher. I still had bids set at 60K and 58K on Bitcoin. I still do. Um, and so I think until we see some of these longer time frame resistances flipped from bare market resistance into bull market support, um, I kind of still

retain that posture. I think it's it's encouraging to see this bounce. Um, it seems like we're we're not just going to go straight to Goblin Town, as I said on the meeting this morning. Um, but it it it still doesn't to me reflect a break of the the pattern. It doesn't reflect um a return to the bull market for digital assets. It's encouraging to see us finding some support. I was expecting us to get some support at 60K. I still think that there's a reasonable chance that may be the bottom, but I also don't respect expect a a strong sharp V-shaped recovery. I don't expect us to wake up in two weeks and be at 100K, right? So, I think that there's going to be some time while we chop through the summer and some again some continued periods of weakness and strength. Um, we could see

uh Bitcoin go below 60K again before we break out. Um, so I'm I'm just not really calling this one way or the I think this is right now just a strong bounce, a bare market bounce, a counter trend bounce. If we get above 75K, maybe I'm I'm curious about what happens then. But right now 67 is not, you know, really moves the needle for me one way or the other. I think >> the thing to to highlight about this though is what I am a permabull on is the long-term valuation of digital assets, the long-term thesis of these things. And I think that we are getting much closer to forming a bottom than a top. I think this is an excellent time to start getting an exp extensive watch list of digital assets that you want to accumulate. I think it's a great time to

be positioning. I like I said, I I I accumulated 60K. I've got more bids down there still. I refilled the res reset the bid that got filled. So, I'm I'm still looking for for opportunities to accumulate things. I'm I'm not chasing this pump, but I am really watching carefully to see what shows weakness and where I can get in on some good assets that I like. I've got an extensive watch list. I'm watching a lot more than what's on my watch list in Milkroad Pro, but um I'm just trying to like add to that list because this is a great time to this might be one of the best buy opportunities we get on Bitcoin and the rest of the digital asset ecosystems for a period of many years if ever. Um and just in terms of like the the strengthening fundamentals and the bang

for buck in terms of risk and reward on some of these things. So that's where I think the opportunity is. I'm not really interested in chasing and top blasting a lot of these semiconductors and these AI IPOs. I think that's where all this attention and capital is. And you know, obviously there's money to be made there if that's where you want to go. For me, I'm much more interested in this longerterm thesis um accumulating these pristine highquality Apex digital assets while nobody wants them and no one's paying attention. I think this is a huge market opportunity frankly because you know this Bitcoin is the best performing asset of all time and nobody wants to buy it right now. That's a great opportunity, right? So, I it's like um yeah, I I'm just really comfortable being patient, watching carefully, having my bids filled and filling and

placing new ones. Um but I'm not in a rush about this. But that's how I'm thinking about this at the moment. And it's encouraging to see the balance in finding support where we frankly needed to. Um but I don't see us like just getting a runaway bullish reversal just yet here. >> John, the uh the head of digital assets at Standard Charter, Jeff Kendrick, uh called the winter over for crypto, saying that that was it. That was the cycle bottom. Why would somebody do that? Like is this like I always wonder because you see at every move you see people that you're like that that should be a an intelligent person, you know, like you're like that's probably somebody who has a pretty good informed opinion. A lot of those types of people come on our show, but you you see those often and then I feel like as soon as

that's invalidated, you just you kind of just forget that they ever said it. Why would people why would people like why would this guy say that we bottomed at 59K and why do you disagree? >> I don't necessarily disagree. He could very well be right. That's what I'm telling you. There's a nonzero chance that 60K is the bottom. There's a non-zero chance, a significant chance, I think, at this point. Um, that that retest of the lows is a double bottom pattern and we just continue higher from there. There's a lot of reasons why that could make sense. I'm not convinced of it yet. I think we need more price action and time for the market to kind of prove that thesis. But that's a completely viable thesis. And you know, like I said, whether it is the bottom or it is part of the process of bottoming,

um, to me is relatively immaterial. And I'm not I'm frankly not super interested in this. Like people who try to get out their microscopes and like, you know, all this like price history and everything. It's a close enough bottom to be a bottom. You shouldn't be thinking about like, am I going to get an extra $2,000 off the price of this or not. you should just be accumulating when you have the opportunity, which I have. I've been I like after the 1010 crash, the February crash, I was accumulating on the way down. I'm still accumulating. Like I'm just this is this is the time to just be getting your stink bids filled and then replacing them. So, um yeah, that's how I feel about that. But the reason he says that is because it's a completely legitimate chance that that might be the case. And

he's trying to draw attention because no investors are paying attention to this right now. Everybody is all the attention in capital is on other things. And what he's trying to do is signal like, hey, this is a major opportunity. You need to pay attention to this. This is worth your time. You know, thank you for your attention to this matter. So, I think that's how I interpret that and why he would say that. >> You're listening to the Milk Road Show, which means you've got takes, strong ones, I bet. But where do those takes actually go? Do you tweet them into the void, argue them in the group chat, or do you try to express them by buying a stock? The thing is, stocks move on like 50 other things at once. And that's where Kali comes in. It's a CFTC regulated prediction market where you

bet directly on outcomes like Bitcoin hitting 100K, Fed rate cuts, GameStop buying eBay with a clean yes or no. We did a full deep dive on why prediction markets might be crypto's third product market fit moment. Check the show notes for the full report and claim $10 free when you trade $10 on Cali. That's fair. Yeah, I think everybody wants to take their shot at having been right so they can look back on it and tell everybody they were right. Uh, John, your last um your last buy in or your last move in the uh Milk Road Pro portfolio on your Milk Road Pro portfolio came back on June 5th. You bought some Bitcoin surprising um just above 60,000. What uh what's on your radar? Because also you added a lot of assets to the watch list

around that time, I think on that same day, saying like, listen, you're looking for you're you're looking for bargain bin deals very soon on some of these assets. Some of those are up a lot since that day. Not something you pulled the trigger on. What is your status on on potentially plowing into some of these other things given your given your strategy that you just explained? >> I'm not necessarily plowing. I have a lot of >> You haven't That's what I mean. You You haven't plowed. You You have more cash than everybody else in in Milk Road Pro. >> Yeah. Well, I've got a lot of limit orders set because I feel like we have I just don't feel like there's any need to rush at this moment, right? Like I was hoping I would get filled on more of these than I did. Um, and maybe I'm

being a little bit greedy by being too patient, and that's okay. I'll pay for that later if that's what ends up happening here. I would be totally fine with cryptobottoming, though, because I already have the biggest bag of Bitcoin and Ethereum of any of our analysts, too. So, if crypto bottoms here and we're just off to a 10x, like great. You know what I mean? Like, boohoo. I'll I'll have to get some more of these things at slightly higher prices. Um, but to me, that that's just that's my positioning, right? Like, I have an enormous amount of Ethereum. I have an enormous amount of Bitcoin. I'm getting a little bit more at better prices and I have an extensive watch list of digital assets that I've got stink bids on. I just think that there is there are so many projects. The problem I'm having

right now, frankly, is I don't have enough capital to get positions and everything that I want to be exposed to. Um there are a lot of great projects in the digital asset space. There are a lot of things that are being overlooked and ignored. There's a lot of strengthening fundamentals. There's a lot of great businesses that are being built and not just like, you know, like speculation things like I I think that there's, you know, a role for memecoins. That's not really the kind of investor that I am. I'm really interested in these very strong, robust businesses that are growing and getting uh more and more lucrative that nobody's paying attention to. That's the opportunity I see in the digital asset space. That's what I'm so excited about. That's why I'm being patient. Um because by the time everybody figures out that this this or

remembers that this asset class is here and figures out what these things are actually worth, uh I'm going to have an an insurmountable lead on them. So that's that's kind of how I'm playing this. That's my portfolio strategy. It it looks dumb in the moment, but I just think that I don't have to get every single call right. I don't have to make a trade and be right every week in order to outperform. I just have to get this one thing right and then, you know, not fumble the bag and then, you know, that's that's good enough for me. >> Well said, man. U John, I think we could probably wrap up there. U I don't know what's going to happen this week. I think hopefully this this call for peace stands and hopefully things keep ripping, but I think every Monday episode has been a bit of a different

picture with you. So, uh we'll keep an eye out. If you guys want to link up with John, you can talk to him every day. He is the best question answerer in Milk Road Pro. So, especially if you want uh response to your to your questions at like 3:00 in the morning, that's the time that John is absolutely ripping. So, make sure you guys check it out. Milk Road Pro uh is just a dollar for 7 days. You want to do a little trial. So, the link is below uh and you can talk to John anytime. You can talk to me too. I'm also Milk Road Pro. I'm not a pro analyst. I don't have a portfolio, but you can come ask me questions about um you know, uh my hair, my face, uh things, meme coins I like, which are none of them right now, and

and anything else that you really want to see. Uh otherwise, we got a great slate of shows this week on Milkroad uh and on Milkro AI as well. So, check that out. Otherwise, John, uh, great to talk to you, man, and thank you for your thoughts as always. >> You, too. Thank you for your hair and face, LG. It was great being back on the show. >> It's always here. Want insights on what's moving crypto markets and how we're trading each event? Subscribe to our channel and join the Milk Road Daily and Pro Newsletters and start investing like the top 1%. This show is for educational purposes only. Nothing we say is financial advice. Investing is risky. Never invest more than you can afford to lose.