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GM. This is Milk Road, the daily newsletter that gives you the best of crypto in 5 minutes or less.
Here’s what we’re serving up:
- Crypto’s trending tokens… 🚨
- Bitcoin ETFs are seeing inflows again 💰
- BlackRock is on a 69-day streak 🤯
- The stablecoin supply just hit a multi-year high 📊
- These indicators will show you the bull market top 👀
- The NYSE is going crypto 🍪
Prices as of 12:30 PM ET. Click here for our Fear & Greed Index
4 QUICK HITTERS FROM TWITTER
It was a slower news day, so we won’t waste your time.
Here’s what you missed over the last day:
1/ Crypto’s trending tokens over the last 24 hours are…
According to Sentiments ‘Top Trending Tokens Dashboard’, there are 2 tokens that have taken over social media recently…
(If crypto had a popularity contest, these would be Mr. and Mrs. Homecoming)
- Popcat: the Solana memecoin has 3x’d its price since April 20.
- AMP: trading volume for the digital collateral token is up +82% over the last day.
Other trending tokens include… $TON, $CELO, $ARB, $SHIB, and $WOO.
2/ Bitcoin ETFs are seeing inflows again…
After 5 straight days of outflows, Bitcoin ETFs have seen back-to-back days of inflows…
(no wonder our researchers have been chest pumping all morning long)
Why this matters: There’s been a correlation between BTC ETF flows and BTC’s price…
- When there are inflows, BTC’s price usually goes up. Since the BTC ETFs launched, they’ve seen $11.2B in total inflows. BTC’s price is up +43% in that time.
- When there are outflows, BTC’s price usually goes down. For example, last week’s 5-day streak of outflows sent BTC to the clearance rack. (It dropped -8% at one point).
**static noise**
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**static noise**
And now back to your regularly scheduled programming…
3/ BlackRock’s Bitcoin ETF is on a 69-day streak
In case you didn’t already know… BlackRock is the world’s largest asset manager.
$9.1T in AUM. Well, check it out. The firm also has one of the most successful ETFs ever…
Its Bitcoin ETF, $IBIT, is on a 69-day inflow streak. (giggity)
$IBIT is only a few months old, but the rookie has made its way into the top 10 daily inflows streak ever.
firm handshakes all around
4/ The stablecoin supply just hit its highest level in ~2 years
For the first time since June 2022, the total supply of stablecoins has crossed $165B.
Why this matters: This could mean that investors are getting prepared to make more moves in crypto soon.
Think of it like a casino – to play the games, you need to trade in your cash for casino chips.
The more chips you have, the more games you can play (and the more money you’re likely to spend).
Well, stablecoins are like the casino chips of crypto. More stablecoin supply = more money people are likely to spend playing in crypto.
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 🏄 🟡 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. 👇
