GM. This is Milk Road, the crypto newsletter that's the wingman your portfolio always wanted.
Here’s what we’ve got for you today:
- ✍️ Our analyst sold 4 alts he’s bullish on.
- 🎙️ The Milk Road Show: The Best Crypto Bet Is No Longer Bitcoin w/ Jamie Coutts.
- 🍪 Compute is becoming the new "store of value" asset.
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WHY OUR PRO ANALYST SOLD 4 COINS HE'S STILL BULLISH ON
On May 29, our PRO analyst John Gillen sold his Aave (AAVE), Sky (SKY), Maple (SYRUP), and Solana (SOL).
Funny thing is, he still likes all four.
So why sell?
It started with Bitcoin…
BTC kept bumping up against its bull market resistance band (around $82k) - think of it like the price ceiling that separates healthy bull-market conditions from bear-market ones.
Bitcoin tried to punch back above it, got shoved back down, and started to slip.
To John, that was a warning shot.
He started bracing for more weakness, and reckons BTC could even slide back to its February lows (~$60k).
So far, the only asset that hasn’t dropped since he sold is SKY:
And while Bitcoin rejecting from $82k was the catalyst - it doesn’t paint the full picture.
Many of these tokens are DeFi tokens - a sector that was already having a rough go of it…
Three things were sagging at once:
- Lending yields were low.
- Borrowing demand was soft.
- TVL (total value locked) kept falling.
Then two punches landed.
1. The Kelp DAO hack: A DeFi protocol got exploited, the kind of thing that makes people yank their money out first and ask questions later.
2. A scare about Anthropic's new Mythos AI: Fear spread that the model could break a bunch of DeFi apps. Realistic or not, it rattled people.
And when crypto folks get rattled, money starts sloshing around.
That's happening right now.
Ok, ok… that’s all well and good - but how is it that John is simultaneously bullish and selling?
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WHY OUR PRO ANALYST SOLD 4 COINS HE'S STILL BULLISH ON (P2)
John still likes all four projects.
He's just gone defensive while the market looks wobbly, raising cash and waiting for cheaper prices to climb back in.
His read on each one:
Aave is the simple call. He's a fan and just wants a better entry later.
Sky is similar, with a twist. He thinks the team has finally nailed its pitch, but louder names are drowning it out. He'll watch for a summer dip to step back in.
Syrup he likes a lot. It's a way for big institutions to earn yield on their Bitcoin. But as crypto rules get clearer, competitors are piling in, so he's stepping back to reassess.
Solana was the hardest call of the lot.
It's one of the toughest survivors in crypto, but the price has been boxed into a range for months. It tested the top, lost it, and (at the time he sold) was fighting to hold the bottom.
With Hyperliquid stealing everyday traders' attention, Bitcoin looking shaky, and big money still on the sidelines, John saw a real risk of SOL losing $80 (which it now has) and not finding a floor until $50 (a 39% drop from his point of sale).
As a result - John sold most of his SOL, keeping a sliver, just in case it bounced. He'll buy back when crypto looks healthier.
Er, ok - so where'd all that cash go?
Every sale, plus his spare cash, went into sUSDS, Sky's yield-bearing stablecoin - so he still gets paid while he waits.
The coin he's watching now is Bitcoin. Does it hold, or roll back to retest those February lows?
Right now, it looks like a lot of John’s thesis is beginning to play out.
SOL's now under $80, Aave, Sky, and Maple are all weakening - and BTC's now at $67k (down from $73k when John sold).
But all of this leaves a few things out…
Specifically, the exact size of each sale, how much Solana John actually kept, and re-entry alerts.
PRO members get all of it, plus every trade John makes from here, the second he makes it.
Want in? You can try Milk Road PRO for seven days, for one buck.
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BITE-SIZED COOKIES FOR THE ROAD 🍪
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Joe Lubin: Self-sovereignty sounds great until you realize most people aren't ready for it.
Take: Compute is becoming the new "store of value" asset for large corporations, not BTC.
Macro view: U.S. manufacturing is still expanding and equity valuations are holding as the business cycle accelerates.
DeFi Saver turns Aave v4 into a trading bot for your loans: Stop losses, take profits, and one-click loan migration - we broke down the pros, cons, and fees so you don't have to.*
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