GM. This is Milk Road, we bring you crypto insights like a hit from a Capri Sun after soccer practice - refreshing and rewarding.
Here’s what we got for you today:
- $15.2B in quarterly options contracts are expiring 👀
- It’s official: The Milk Man’s gone PRO 😎
- VCs are ‘aggressively’ returning to crypto 🍪
Prices as of 12:30 PM ET. Click here for our Fear & Greed Index
$15.2B IN QUARTERLY OPTIONS CONTRACTS ARE EXPIRING 👀
Q1 is coming to a close. Which means two monumental events are happening…
1/ My wife and I are having our first “quarterly expense exposé” ever. And she’s like the blockchain… she keeps all the receipts. (AKA I’m f*cked. Send help)
2/ Over $15B in quarterly options contracts are expiring tomorrow.
Now, in case this all looks like gibberish, let’s break it down in simple terms…
Options contracts give investors the right to buy or sell cryptocurrencies (like BTC) for a predetermined price, at some point in the future.
In this case, the end of the quarter.
It’s kinda like betting on who will win the Super Bowl before the season starts.
And tomorrow, a lot of investors find out whether they won their bets or not. Here’s why this is a big deal…
- It’s one of Deribit’s largest expiries ever. For reference, Deribit makes up about 85% of the global crypto options market.
- A lot of contracts expiring are “in the money”. If BTC and ETH stay at current prices, the contracts will be profitable and investors might try to cash out.
- This could lead to volatility in the market. When so many of these options contracts expire at once, prices can swing up or down within minutes. (pack a brown paper bag if you get motion sickness)
- It also gives us a glimpse into the “market's mood”. How traders react to this expiry can give us hints about what's coming next. If most people are optimistic and keep investing, we might see prices go up. If they get nervous and sell off, prices could drop.
I’ll be honest… I had no clue what ‘options contracts’ were until recently.
(I always thought it was just one of those fancy finance terms that give old people, like my Uncle Vince, goosebumps.)
Turns out that these options contracts and cycles of expiries play a big role in the crypto market too. So buckle up, tomorrow could be another wild day.
INTRODUCING MILK ROAD PRO 😎
Storytime: A few months ago, the Milk Man met Web3 Academy, a team of researchers and analysts that are deep in the weeds of crypto.
For years, these guys have had their coffees straight black, while h
elping thousands of people invest successfully in crypto through in-depth and comprehensive reports.
So the Milk Man thought: These guys really need some milk in their coffees. Why don’t we blend our forces with these black coffee drinkers to make the best flat white the crypto community has ever tasted? 😋
Voila: Milk Road PRO is born – the resource where onchain analytics, tokenomic deep dives, macro analysis and more are combined into one, to help you invest successfully in crypto. 🤑
Note: the daily Milk Road newsletter you know and love will never change.
Milk Road PRO is an extra resource for those who want to level up as crypto investors just in time to make the most of this bull market. 💰
The best part? The first 500 Roaders to upgrade to Milk Road PRO get a whopping 33% (lifetime) discount. 🥳
By upgrading to PRO, you will get weekly research reports that help you spot the biggest opportunities in crypto.
Here are the different types of reports the Milk Man will send your way:
- Token Analysis: Understanding tokenomics and business models of crypto projects to separate signal from the noise, at a fundamental level.
- Sector Analysis: Identify and leverage emerging crypto trends early.
- Market Analysis: Navigate the markets with data-driven insights across macro, on-chain, and technical analysis.
- Investment Strategy: Learn how to invest and build a portfolio like a PRO. Ongoing strategies to limit your risk and make the most of crypto cycles.
Note: These reports aren’t new – 60+ have already been written throughout the bear and they have a solid rep for killer insights. Here are 2 examples:
1/ The Stars are Aligning for Markets – a deep dive into 30+ charts showing that markets are about to turn. This was published in October 2023, right before Bitcoin started to moon.
2/ The Solana Tokenomics Report – A deep dive into the fundamentals of $SOL, highlighting how this was a great investment opportunity back when it was still <$20.
Before you jump into PRO, you're probably curious about the reports, right? We've got you covered.
Check out our Ultimate Bull Market Guide, featuring past PRO reports on portfolio fundamentals, crypto business models, macroeconomic overviews, tokenomic deep dives, and more!
It's your perfect intro to Milk Road PRO.
In addition to these killer weekly reports, the Milk Man will also add PRO-specific charts and analysis throughout the daily newsletter that will help you spot the top of this bull market cycle before it’s too late.
Only PROs will see this content, so keep your eyes peeled. 👀
Lastly, you get to join the Milk Road PRO Community — where you can chat with the Milk Road team, connect with hundreds of fellow PROs and attend monthly AMA sessions.
Upon upgrading to PRO, check your email for instructions to join the Discord.
This is going to be quite the journey! Grab your 33% lifetime discount on Milk Road PRO today and let's milk this bull market together. 🐂
P.S. - Only the first 500 Roaders will benefit from this 33% lifetime discount.
P.P.S. - Our first-ever Milk Road PRO report is launching on Saturday. Stay tuned! 🚀
BITE-SIZED COOKIES FOR THE ROAD 🍪
LAIKA, a pioneering memecoin, has taken flight into space, marking a monumental achievement. Reaching a height of 30k — paralleling the number of livestream viewers — LAIKA proves that rallying around an idea can lead to extraordinary heights. *
Navigating the complexities of crypto tax filing can be overwhelming. On the plus side, there are services — such as CoinTracker — to simplify this process, making it as straightforward as managing traditional tax filings. Check out Milk Road’s Tax Software guide here.
Bitcoin’s rally caused VCs to “aggressively return to crypto”. According to Craig Burel of Reciprocal Ventures, venture capitalists are flocking back to the industry after the recent rally.
Fidelity added staking to its ETH ETF proposal. Fidelity is one of several issuers trying to launch a spot Ether ETF just months after the SEC greenlit BTC ETFs.
Sam Bankman-Fried has been sentenced to 25 years in prison on 7 counts of fraud and conspiracy. **sniff sniff**… you smell that? It’s the sweet, sweet smell of justice.
More Hong Kong-based asset managers have started applying for spot Bitcoin ETFs. Earlier this week, a report from Bloomberg Intelligence said Hong Kong regulators are likely to allow in-kind creations and redemptions for spot bitcoin ETFs in Q2 of this year.
BlackRock’s new tokenized investment fund (BUIDL) received $160M in net inflows during its first week. BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) is a tokenized fund that invests in U.S. Treasury bills, repurchase agreements, and cash.
*This is sponsored content.
MILKY MEMES 🤣
RATE TODAY’S EDITION
What'd you think of today's edition?
Login or Subscribe to participate in polls.
ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
Vitalik saw it coming...
— Milk Road Images (@MilkRoadImages)4:34 PM • Mar 28, 2024
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.
