Today’s edition is brought to you by Agoric - where you can build and deploy secure DeFi applications using the world’s most popular programming language, JavaScript.
Say goodbye to multi-chain chaos!
GM. This is Milk Road, the crypto newsletter that feels like free Slurpee day at 7-Eleven—every single day. **checks calendar**
Here’s what’s slurping today:
- ✍️ US Economy is cooling
- ✍️ 4 phases of Bitcoin cycles
- 🎙️ The Milk Road Show: Portfolio reallocation strategy w/ Zeneca
- 🥛 PRO portfolio updates
- 🍪 Goldman Sachs drops 3 new tokenized products
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
MACRO: US ECONOMY IS NO LONGER OVERHEATED 🆒
In his semi-annual testimony to US congress yesterday, Fed Chair Jerome Powell dropped some serious updates on the state of the #1 economy in the world .
According to J.Pow, the economy is "no longer overheated" and the job market has "cooled considerably" from its pandemic-era extremes.
It's like your morning coffee finally cooled down to a drinkable temperature. ☕ There are a couple reasons why this is big news:
1/ CPI data dropped
The much-anticipated CPI (Consumer Price Index) data for June has arrived, and it's cooler than expected:
This softer-than-expected CPI data suggests the Fed might have room to ease up on the interest rate pedal.
2/ Rate cut odds up
Polymarket odds are giving us the inside scoop, showing an 83% chance of a rate cut in September.
Unfortunately, a July rate cut is still looking quite unlikely. 😢
The market is basically betting on Jerome Powell to pop a David Blaine and pull a magical interest rate cut out of his hat soon(ish). 🔮
So, what does all this mean for your bags?
With the consumer inflation numberscoming in soft and the economy cooling overall, we could see some fireworks in the market. 🎆 🥛Milk Road Take: Markets love a cooling economy.
BAH BA BAH BAH BA 🍟🍔
AND the cases for interest rate cuts are getting stronger than ever.
With an 83% chance of a rate cut in September and the market hoping for 2-3 rate cuts by the end of the year, it's time to get your popcorn ready. 🍿
ORCHESTRATING THE WEB3 ECONOMY
Picture this: a world where all your crypto apps talk to each other like old friends, making web3 as smooth as your favorite web2 app.
That's the dream, right?
Enter Agoric.
They’re the web3-native orchestration wizard turning that dream into reality. Building multi-chain apps is a headache, but Agoric gives developers the magic wand to make it seamless and delightful.
Ready to supercharge your web3 journey?
Join Agoric’s Early Access Program and start orchestrating the future of wealth in web3.
THE 4 PHASES OF BITCOIN PRICE CYCLES 🍂
We know many of you are feeling a bit jittery with the market doing its best impression of a roller coaster since March. 🤮
Yup, it’s only been four months… F elt like an absolute eternity.
But hey, take a breather – we’ve been here before, and will ride it out again.
We’ve seen this play out more times than Michael Saylor has tweeted about Bitcoin.
Let's look at how all the cycles have played out in the past: ⬇️
Here's the quick and dirty rundown…
1/ The “down only” year: 😱
Bitcoin took a nosedive with nasty drops (-78% in 2014, -87% in 2018), capping off a hat trick of yearly downturns in 2022.
2/ The “market recovery” year: ❤️🩹
Bumpy yet hopeful years, with big rebounds in 2015, 2019, and 2023. It’s Bitcoin’s version of a phoenix moment, rising from the ashes.
3/ The “painful upside” year: 📈
Rising but rocky, with major dips:
- 2016 had two nasty drops of 30% and 39%
- 2020 took a 60% hit (Covid)
- 2024’s been a bit smoother, but still painful.
4/ The “up only” year: 🤑
Boom times with massive gains, like 2017 and 2021. If history’s our guide, 2025 could be another wild ride up.
🥛 Milk Road Take: We’re still in the “painful upside” phase so this current dip we’re in is no surprise. Every cycle has its peaks and valleys, but we always come out stronger.💪
So, keep your cool, zoom out, and remember: In the crazy world of crypto, patience isn’t just a virtue—it’s a superpower.
Stick to the plan, don’t panic, and let’s ride this roller coaster together.
Or as our PRO team likes to say it: Dont f*ck this up! 🤣
We may be entering the final stage of this crypto cycle, so dive into the latest episode of The Milk Road Show, where Zeneca reveals his portfolio reallocation strategy to capitalize on this golden opportunity!
YouTube | Spotify | Apple Podcasts
MILK ROAD PRO PORTFOLIO UPDATES 📊
Look! Up in the sky! It’s a bird! It’s a plane! It’s… the Milk Man sharing his latest portfolio changes.
Like clock-work, every Thursday, we’re here to share our updated list of investments from the Milk Road PRO Portfolio.
Disclosure: We are not a day trading portfolio so don’t expect a high volume of trades. Read our “how to build a crypto portfolio in 2024” report to learn more about our portfolio strategy.
Portfolio performance 📈
The Milk Road PRO Portfolio saw a slight increase over the past 7 days. Our portfolio value is at $100.3K, up 1.4% since last week.
Portfolio changes 👀
The Milk Road PRO Portfolio is available for Milk Road PRO members only.
GO PRO AND UNLOCK:
- Full access to the Milk Road PRO Portfolio. 👆
- Our weekly reports that help you invest successfully in crypto. 💰
- Full access to our weekly bull market peak indicators. 📊
- Full access to the Milk Road PRO community. 🫂
