GM. This is Milk Road – Labor Day? Never heard of it (the crypto markets don’t stop, so neither do we).
Here’s what we got for you today:
- ✍️ What to look out for this month
- 🎙️ The Milk Road Show: Where Are Bitcoin & Ethereum Heading? Technical Breakdown, Price Targets & Strategy w/ Chart Guys
- 🍪 How the Trump-backed World Liberty token’s debut played out
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Prices as of 2:00 PM ET. Click here for our Fear & Greed Index.
WHAT TO LOOK OUT FOR THIS MONTH 📆
We’ve got a big month of events ahead of us, which calls for an even bigger What To Look Out For section to kickstart September!
Here’s what’s on the horizon:
1/ Macro 🌎
Break out the hand warmers and ready those note-taking muscles – September’s macro calendar is stacked!
- August ISM Manufacturing PMI data – Sep 2 – Were manufacturers buying more or less goods in preparation for economic expansion this past month?
- July JOLTS Jobs data – Sep 3 – Job openings and labor turnover data for July gets released (more openings signals future economic growth)
- August ADP Nonfarm Employment data – Sep 4 – How’d employment hold up (outside of farming) throughout August?
- Initial Jobless Claims data – Sep 4 – How many people filed for unemployment for the first time in August?
- August Jobs Report – Sep 4 – A report cataloging the total jobs added/lost, unemployment rate, average earnings, and hours worked in August
- CPI data – Sep 11 – A narrow view of consumer price inflation in August
- FOMC meeting – Sep 17 – The Federal Reserve meets to decide on interest rates (will they cut?)
- PCE data – Sep 26 – A broader view of consumer price inflation in August (the Federal Reserve’s preferred inflation metric)
Too much to comfortably process? We hear you. Here’re the key events we’re watching:
August ISM Manufacturing PMI data – Sep 2 – PMI is sitting at 48 right now and, according to the Milk Road Macro team, will likely climb above 50 in the second half of 2025 (though probably not this month.)
An ISM PMI above 50 usually correlates with altcoins pumping (hell yeah!)
August Jobless claims/Jobs Report – Sep 4 – This is one of those weird situations where “bad news is good news”...
‘Cause if unemployment rises, it will increase the likelihood of the Federal Reserve cutting rates in an attempt to juice the economy – and crypto loves rate cuts!
FOMC meeting – Sep 17 – this one is simple: if the Federal Reserve cuts rates, the broader market should react positively.
Now – take any potential positive news here and add a grain of salt, as September has historically been a rough month for crypto throughout previous bull runs.
(Meaning positive macro movements may wait till October to show up in asset prices.) 👇
2/ Tokens 🪙
This month, we’ve got a bunch of unlocks from a range of big names.
Good news is: they’re all relatively small – so they shouldn’t hurt prices too much.
And we can’t talk tokens without mentioning World Liberty Financial (the Trump family’s DeFi platform) and its $WLFI token.
It launched today and is doing NUMBERS right out of the gate. 👇
Sweet! So what does it do?
Honestly, we’re not exactly sure – World Liberty has remained pretty tight-lipped on it all.
We know they’re building in the Ethereum DeFi space…but that’s about it for now.
Hopefully we’ll be able to change that when World Liberty’s co-founders join The Milk Road Show this week.
Keep scrolling to get dates (along with an update on 3 important charts).
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WHAT TO LOOK OUT FOR THIS MONTH (P2) 📆
Time to cover chats n’ charts to watch this month…
3/ Podcasts 🎙️
Petition to have our podcast team paid on commission – all in favor?
- The Milk Road Show – Wednesday, Sep 3rd – Zach Witkoff & Zak Folkman co-founders of World Liberty Financial
- The Milk Road Show – Thursday, Sep 4th – James Seyffart, ETF whisperer / research analyst at Bloomberg Intelligence
- Milk Road Macro Podcast – Thursday, Sep 4th – Quinn Thompson, CIO at Lekker Capital and co-host of Blockworks' Forward Guidance podcast
- The Milk Road Show – Thursday, Sept 18th – David Duong – CFA at Coinbase
- The Milk Road Show – Tuesday, Sep 16th – Nic, CEO & Co-founder CoinBureau (the largest crypto YouTube channel in the world)
4/ Charts 📈
Last month we opened three loops on three key charts – the question being:
Can they break their resistance/support lines by the end of the month?
(Because the higher a chart’s timeframe, the greater the confirmation of a trend.)
And as of today, we have answers…
This measures how much of the total crypto market value is made up of Bitcoin.
(If $BTC.D is up → $BTC is outperforming altcoins. If it’s down → alts are outperforming $BTC.)
In August, we saw Bitcoin dominance break its ~3-year uptrend on the daily and weekly time frames…
But the real kicker would have been if it broke on the monthly timeframe.
Well. We just got our answer. Monthly break: confirmed.
(Altcoin holders rejoice – ‘cause if this trend continues, it means outperformance for alts!)
Altcoin Market (total crypto market cap, minus Bitcoin)
To recap: over the past ~4 years, the total altcoin market cap has tried – and failed – to confirm a monthly break above $1.51T a total of six times…
That is, until last night, when it made its seventh attempt and closed at $1.55T! 👇
Bitcoin’s 8-year resistance
A refresher on what was posed:
If Bitcoin closes out a month in the ~$130k to ~$145k range in the next 12 months (the target number shifts up with the more months that pass), it will break an ~8-year resistance line.
(And flip that previous price resistance into price support.)
And just like that time Jessica Landenhorn turned down my prom invitation without hurting my feelings – Bitcoin was perfectly rejected by its ~8-year resistance line in August. 👇
Tying all of these charts together:
This month we’re looking for continued strength in alts when compared to Bitcoin.
Alright, that’s all my fingers can manage to type for today.
If anyone needs me, I’ll be icing my knuckles and potentially aping into some Ethereum and Solana alts on Milk Road Swap.
BITE-SIZED COOKIES FOR THE ROAD 🍪
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High risk, high reward (maybe both)! 3 fringe tokens on Milk Road Degen's radar.
A closer look: how the Trump-backed World Liberty token’s debut played out.
Is everything ok? Bitcoin miners say times are ‘grim’ as fee drought poses existential threat to network — DL News.
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