🥛 Bitcoin just had its best week ever. Now what? 🚨

GM. This is Milk Road, the newsletter that’s happy Bitcoin is finally doing Bitcoin things again.

Here’s what we’ve got for you today:

✍️ What’s next for Bitcoin?
✍️ How our analys ts are playing this market.
🎙️ The Milk Road Show: Ethereum Is Setting Up for Something We Haven’t Seen in 10 Years.
🍪 Bitcoin will be over $100K by the end of this year.

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Prices as of 2:00 p.m. ET. Powered by CoinGecko.

WHAT’S NEXT FOR BITCOIN? 🤔

Every Monday morning, John, Martin & I jump on a call.

We talk through what we're watching for the week ahead and how we're actually thinking about our portfolios.

This Monday, the mood was cautiously optimistic.

As we broke down on Thursday & Friday, Bitcoin’s having a gala time.

But despite the recent pump, our crypto analysts aren't popping champagne just yet.

They’re cautiously watching the market.

The number John is watching closely is $82,000.

That's the bull market support band. It’s the price level that separates "we're in an uptrend" from "something's wrong."

John's two key retrace levels if things cool off: $74,000 first, then $71,500 if that doesn't hold.

Those are the spots he'd start getting more interested in.

Source: TradingView

The reason John is cautious is because of some sell pressure in the market.

The Kingdom of Bhutan (yes, the country) and Wintermute (one of the largest crypto trading firms in the world) have both been moving Bitcoin onto exchanges recently.

When large holders move crypto onto exchanges, it usually means one thing: they're getting ready to sell.

But so far, it's been absorbed.

Bitcoin ETFs have been pulling in enough fresh money to soak up the selling. The bulls are holding the line.

There are two events this week that could shift the picture in either direction:

1. A Treasury buyback announcement

The U.S. government repurchasing its own debt could inject additional liquidity into the market.

2. Kevin Warsh's debut speech at Jackson Hole on Friday

Markets will be watching closely for any signals on the economy, rates and liquidity.

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HOW OUR ANALYSTS ARE PLAYING THIS MARKET 🧑💻

So how are we actually positioned through all of this?

Martin has around 13% of his portfolio directly in Bitcoin.

But he also owns several crypto-related stocks. (You can see exactly which ones he holds inside PRO here.)

On the other hand, John avoids having exposure to any crypto-adjacent stocks.

His argument:

Companies like Coinbase built their business models on top of things that Ethereum increasingly does natively and for free.

Trading fees, custody, settlement (the stuff that made these businesses valuable) are slowly being eaten by the network itself.

Why pay a middleman for something the underlying infrastructure does itself? As Ethereum grows, the moat around those businesses shrinks. So John avoids them altogether.

So while Martin sees opportunities in crypto stocks, John would rather own crypto directly.

Two smart investors but very different approaches.

And that's exactly why Milk Road PRO is valuable.

Inside Milk Road PRO, you don't get five analysts all repeating the same opinion.

You get five different perspectives on the same topic:

John is heavily focused on crypto.
Martin mixes crypto with stocks.
Kyle and Vincent have their own crypto exposure and market views.
Melvin takes a completely different approach and currently has no crypto exposure at all.

And depending on your investment style, time horizon and thesis, one approach might make more sense to you than another.

Inside PRO, you get direct access to all five portfolios and can see what each analyst is buying, selling, holding and watching.

You don't have to blindly follow anyone.

You get to see the research, understand the thesis and decide which approach fits you best.

And if you've been thinking about joining, this is your last chance to get in at the current price.

Milk Road PRO's price increases on August 26. Less than 2 days from now.

Once the price goes up, the current price is gone.

So if you want access to all five analysts and their portfolios at the lowest available price:

<span style="font-weight:700;"><b>Get in before August 26</b></span>