# Bitcoin Bottom Strategy, Clarity Act, And Macro Risk

**Podcast:** The Milk Road Show
**Published:** 2026-08-10

## Transcript

I like to say buying fear is a good deal at any price.
So when everyone was screaming and crying and there were red candles and everyone was paper handing their bags, that's when I was buying.
What's up, everybody?
It's LG Ducet here and welcome to the Milk Road Show, the daily crypto show that will never fully shave because we wouldn't want the audience to realize that we both actually just look like little boys.
Today is August 10th, 2026.
I've been deep in the AI trenches, but I can't help but feel there's a renewed energy in crypto now that the Clarity Act is...
kind of dead and the charts look kind of good.
So naturally, I'm back to host the show today only so I can grill your favorite podcast host on why Bitcoin could see some short-term bullish action if he expects us still to bottom sometime this year, just like everybody else is saying, and maybe get a little bit of macro intel after last week's jobs reports, all things that I have not been paying attention to.
And I want to remind you that everything you hear today Our pro members heard it first.
John has been on a rampage in our analyst update section of Milkroad Pro, sharing his thoughts and analysis in real time.
Plus, he's still sitting on like 30% cash in his Milkroad Pro portfolio, and he's getting ready to deploy it.
I'm going to ask him again today when he's going to deploy it, but I think it's coming soon.
I think, again, it's going to correlate with this bottom.
And a reminder that our podcast today is free and it wouldn't be possible without our partners at saver.money, the Stablecoin payment platform built for Asia.
Keep an ear out for more information about them later in the show.
John, I feel like we both went away to summer camp and haven't seen each other in a while.
I feel like you say weirder and weirder things in the intros to these podcasts.
Like I don't shave because I look like a little boy.
Like maybe that was what I was doing when I was 22.
But now I just like having a beard.
Now that you're 20, now that you're 23, now you can, now you can just be a man.
Well, welcome back to the show, LG.
I've missed you.
It's good to have you here.
This is where I come to test new material.
You know, this is where I'm like, listen, this is a crypto people like new weird stuff.
You got to be open to new ideas.
It's bear market.
Things are slow.
So it's like I got to come in here, try some new material, see how you guys feel before I go back and I guess talk to Kyle on the AI show.
Well, what do you want to talk about today?
I want to know what's going on in crypto, man, because listen, I, you know, my old, my old DGN radar has been going off because I was like Robinhood chains going off and whatever, which is usually when that kind of DGN stuff picks up.
It's because there's some kind of liquidity coming back into the system, at least for like super DGN assets.
We're not going to talk about that today, but I want to know from you, John, I've been reading your pro updates.
And I want to know, like you said recently that we might have like short term bullish action.
Is that is that still on the table?
I feel like you're going to pause and like restart from deeper back before just answering me.
Well, I think I think there's a.
A non-zero chance of that happening.
But let me, yeah, I'll do exactly what you said.
I'll back up and give you a broader framing here.
I think that a lot of people have been watching closely to see what would happen with the Clarity Act in terms of short-term catalysts for Bitcoin to pick a direction one way or the other.
For last, I think it's three weeks, almost a month now, Bitcoin has been a stable coin between like 63, 65K.
I think at time of recording, we're like almost 64K on the dot right now.
And this is not what you want to see from an asset, especially one that's...
alive and performing and got volume in trading, which Bitcoin has none of those things right now, right?
Like the volatility is dampened to historic levels.
It's been lower than tech stocks for a long time.
And a lot of people are watching for clarity to get a firm yes or no for Bitcoin to pick a direction kind of one way or the other on these things.
And I think we are getting close to crunch time, so to speak, where like Bitcoin does have to kind of pick a direction one way or the other, like either confirm a bottom and go higher or break down.
So what I mean by that short-term bullish price action is that it seems to me like we're going to see Bitcoin retest some resistance.
But because we haven't gotten the fundamental catalyst of the Clarity Act through, I think sometime in the next month in August here, we could see Bitcoin go up, test that $68,000, $72K level somewhere in the low $70s, high $60s.
and then maybe see a rejection.
And then that could result in a retest of 60K or back into the 50s.
So we'll kind of see, these are not big swings in price action by any means necessarily, but I think without the clarity act coming through, that's kind of what I see in the charts right now is like painting another bear flag, right?
Like this is a common thing that happens in a bear market is...
The market will climb the wall of worry.
They'll paint a bear flag that's trending up.
The bears will look silly.
The bulls will think that the bull run is back.
Then we'll hit up against resistance, get rejected, and go make a new low.
So that seems to be like what I would expect for the next couple of weeks from Bitcoin here, unless we get some major shift or announcement or something, or like Trump comes out and suddenly decides to say we've started buying Bitcoin for the Strategic Reserve, something like that, right?
But that's just kind of what I see in the short term here.
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Why does Bitcoin need to pick a direction from here?
Like, wouldn't the most frustrating scenario, which again relates back to your quote of Ben Cowan, which is bear markets make fools of bulls and bears, wouldn't the most frustrating?
scenario be that it just continues to chop like it just stays between 60 and 65 for like another three months wouldn't that be the worst but also be like the most unexpected outcome in a sense yes and i think that there is some some ways of looking at things where you could say that that might continue right the low volume of trading the low amount of open interest in speculation the uh just low volatility in general might continue for a while until we get to the other side of this bear market activity and we see bulls come back with size and just see some renewed interest and activity in the asset class overall.
But I don't really think that's what's going to happen.
Well, it might happen.
But it's not what I would like to see.
My preferred outcome would be some kind of direction picking here.
And then the other thing too is like Bitcoin has done just what you said for several weeks and it has done that before.
And it ultimately does always resolve in some kind of breakout one way or the other, right?
Like eventually the volatility comes back, the price does move.
But trying to like… anticipate which direction you're going to see that break is something that's important to do if you're invested in the asset class or if you're trading the asset class.
So that's kind of what I'm paying attention to here.
Another thing that you missed is the Clarity Act getting postponed.
And this actor, Ben McKenzie, posting, this is one of the most frustrating things I've ever seen in crypto.
This guy's drinking a beer out of a whiskey glass telling me, we beat crypto with this look on his face like he's some kind of hero or something.
When he completely does not understand that this is a bill that's been through more than two years of bipartisan legislative efforts to try to collaborate on a framework that gives clarity to an industry while also maintaining consumer protections and is designed to prevent and preclude the exact kinds of market abuses and unhealthy behaviors in digital assets that he's celebrating stopping.
So he's like in his own way.
It's like the ignorance is profound here.
But all that said.
He's like, clarity is dead.
We beat clarity.
That's not true.
The Senate Majority Leader, John Thune, has scheduled a vote on clarity for the first steps for closure, which is in debate, which moves the bill towards a vote for September 15th after the summer recess.
The odds of this passing have dropped very, very low, which is why so many people are scary, very sad about.
clarity right now.
But Ben McKenzie's wrong.
It's not totally dead.
It may never be totally dead.
But yeah, that's anyway, I'm frustrated.
What's what's this guy's problem?
First of all, people like him.
Why did that?
First of all, that doesn't really matter because this guy is not like this guy.
It's not like it's Van Eck that you had that Jan Van Eck that you interviewed on the show last week, who is actually someone of importance, who manages a lot of money or even Matt Hogan that we have on all the time.
You're going to talk to this week who also, manages a lot of money or at least creates products where people invest billions and billions of billions of dollars.
I mean, I feel like there's always just random H list celebrities roaming to dump on things.
Same as when they were launching, you know, the hot to a girl launched a meme coin three years ago.
Like to me, it's the same thing.
It's like that doesn't it's a signal of a top or a bottom.
And to be some random actor from the OC from 30 years ago or whatever, dumping on Bitcoin is like so that's so irrelevant.
But why are you hung up on that?
Because it's annoying and he's trolling me and he's drinking beer out of a whiskey glass while he's doing it.
You.
It's you.
It's for you.
That's exactly it.
It was a personal attack and I am offended.
Yeah.
No, look, I mean, Ben McKenzie fighting for relevance all aside.
I think you make a lot of good points, right?
Like I did interview Jan Van Eck on the AI channel for Milk Road last week.
And I did make a point specifically to ask him about how he's thinking about portfolio construction because the 60-40 stock bond portfolio is dead.
There seems to be widespread agreement on that.
But what replaces it is.
It's what people disagree on.
And Jan has been saying you want allocations to hard assets like gold and Bitcoin.
And so I thought I'd ask him about like, are you accumulating this?
Yes or no?
I have Matthew Siegel from VanEck, who's their head of crypto on the channel on this channel tomorrow.
And I'm going to ask him about this because he and Jan are disagreeing about should you just full port into Bitcoin right now?
Should you wait till October?
Should you slowly DCA?
Should you DCA based on time or by price or by position, whatever?
Right.
So that's kind of the conversation among serious asset managers.
And the major asset managers on Wall Street, like BlackRock, right, manages $15 trillion.
They endorse the Clarity Act.
So everybody who's actually in the financial industry understands the need for this bill, understands the need for this asset, understands the importance of both and the role that they play.
an investor's portfolio.
And so that there's broad consensus on.
So this is the thing I would say is the takeaway here is that The question, the debate is no longer about should you buy Bitcoin.
The debate is how much Bitcoin should you buy and when should you start buying it?
But almost everybody agrees that we are at the time in the market where Bitcoin is cheap, it's undervalued, it's mispriced.
The upside is ahead of us, not behind us.
And this is a great time to start building your position.
Everybody has to come up with a strategy that makes sense for them and their portfolio.
But that's really the only debate here.
It's not about whether or not you want to get more Bitcoin or get back into Bitcoin if you've gotten out.
But it's a question of what your strategy is.
for getting back in.
What is your strategy for getting back in, Mr.
30% cash position?
No milk road pro trade since July 1st to celebrate Canada Day.
Where's your...
No, but you're giving yourself advice right now.
You're saying like, you could wait for 48K, but it may not happen.
So what are you waiting for, man?
If Bitcoin's going to 200K, it's going to go to 10K.
What are you waiting for?
Try to save an extra 20%.
Everybody asks me this question and they miss how I got into this position to begin with, which is that I like to say buying fear is a good deal at any price.
So when everyone was screaming and crying and there were red candles and everyone was paper handing their bags, that's when I was buying.
So I was DCAing months ago.
I was DCAing in January and February and November.
I've been DCAing this whole time.
So you talk about I've got a 30% cash position.
I've also got very heavy crypto bags.
And Tom Lee has been buying fear.
for 58 consecutive weeks, he's been buying Ethereum like clockwork.
And I have been accumulating Ethereum as well, staking it.
I haven't moved that.
I've been buying Bitcoin.
I plan to continue doing these things.
But now I'm in a position because I bought the fear when we came down to these levels, not knowing exactly where the bottom would be or when we would find it.
I just keep buying the new lows.
I bought at $60K twice.
I bought at $58K when we went below $60K.
If we go down to $55K, I've got a bid there.
If we go lower than that, I'll set new bids.
But I think in general principle, if we get below $60K again, I'll probably just dump some more cash into Bitcoin.
I am not in a position of being forced to guess or to like, you know, force a trade here or get long on leverage or something because I've been accumulating on the way down.
Now, the reason that most people don't do this is because, number one, it's scary and people trade on emotions, which they should not do.
But I like to get Bitcoin when everyone's afraid to buy Bitcoin.
That just makes me feel more comfortable.
Everyone's panic selling.
I like to buy.
I don't really care what the price is.
The opportunity cost is what I'm paying for, right?
Like because I'm putting my capital into Bitcoin at a time when it's in a bear market, I'm making an opportunity cost with that capital because I could be chasing other things or shining objects or speculating or getting along on leverage and getting liquidated like all the cool kids named Leopold.
But instead of doing that, I'm just buying the apex financial asset and waiting for the market to come to me because it is going to come to me.
And that's the advantage that I have is that opportunity cost is what I...
take as the cost of patience, of the cost of buying a sure thing, more or less, right?
Like, obviously not financially influenced, you know, past performance is not indicative of future results.
But I think Bitcoin is going to trade over 100,000.
So I'm kind of doubling my money with very little risk and just the cost of the patience and the opportunity cost of not getting wrecked in other markets while I wait for that the market to come to me.
So that's how I play this myself.
I've been buying on the way down.
I've bought in these dips.
I'm going to keep buying the dips.
If we get more dips, I'll buy the dips.
But if we get a confirmed breakout, right, and Bitcoin does flip back into a technical bull market, then I'm also not in a big panic rush either, LG, because like I said, my bags are packed.
And then I just deploy because I know I've got three years of upside.
So I don't really have to care so much about the price that I get in it once I get a confirmed.
flip back to a bull market.
So this is how I play these things.
And I don't outsmart myself.
I don't overthink it.
I don't overtrade my book.
I have the fewest number of positions of any milk-root analyst.
I have the largest cash position of any milk-root analyst.
And I have the highest degree of probability that I'm going to outperform everybody just because it's hard to beat somebody who does 100% upside.
So we'll see what happens from here.
But I'm buying the best assets on the market at a time nobody wants them.
I'm going to do fine.
I just have to be patient.
You know, I think also what I asked you, the opposite is true as well.
Right.
That instead of waiting, you could wait for this bottom, but you could also it's also smart to wait for that actual true bullish signal, even if you miss on an extra 10 percent.
Right.
Better to be more confidently right, hopefully, than guessing that you've been right.
Right.
So I think I think what you're saying also makes sense.
And I think that that's clearly what you're waiting for, that it doesn't.
Yes, you'll for now, you're buying fear.
And until those signals are green, that's when you will buy excitement.
Right.
But until but.
until while we're still in a recurring fear environment, which is what the bear is, is like regular rotations of all scary again.
We're selling off again.
All these negative, all the markers like negative outflows and sailor above the selling, all that kind of stuff.
That's what drives those.
And that's that's what you're looking for.
I want to circle back down to the Clarity Act is, again, the news kind of came across last week.
I was busy in talking about memory stocks, which which don't don't care about the Clarity Act.
But on that side, Ben McKenzie is saying that it's dead and he's celebrating that.
But I don't think that that's true because even on Polymarket, it did dip to a 14% odds of being signed in 2026.
But even today, it's already back up to 26, right?
So it's not dead, dead.
It's just, I think at this point, it's just delayed, right?
Yes, and I think it's been delayed so many times that people think it's dead.
And look, I grew up in the D.C.
area.
I worked in Washington, D.C.
on Capitol Hill for a little while.
And there's a saying in Washington, which is that a bill dies nine or ten times before it passes.
And the Clarity Act has been declared dead at least nine or ten times at this point, and it's still not dead.
And I think that this is something people don't understand about Washington is that people who negotiate these bills, this is a long-term negotiation.
These people are professional haggers.
This is not like buying a counterfeit Rolex on Canal Street.
This is long-term, multi-decade horse trading with people who have been negotiating with each other and fighting with each other over policy and legislation for sometimes decades, in some cases, between the leaders of these parties.
Chuck Schumer has been fighting with Republicans and negotiating with Republicans for decades.
That is what's going on here.
There's a lot of calculus behind the scenes going on, deals being made, and they take all the time they can possibly take to try to push each other further towards one outcome or the other.
But Trump has been – Trump has already made historic – people in the crypto industry give Trump a lot of crap for holding up this bill, but he has already made historic concessions that no executive has ever agreed to in this bill.
The Democrats are still pushing for more.
He sent – a response to those concessions demands for concessions they still didn't agree and sent back stuff and he is now even entertaining this so he's allowing himself to be held hostage and pushed really really far much further than any other president has been because he knows that he In some sense, not owes, but he really, really wants this bill to come through because he knows how important it is for America and for the industry overall.
So he's allowing himself to be bullied by the Democrats on something quietly.
I mean, he's not being making a big deal out of it, but he is getting pushed really, really far in this negotiation.
And I think that that's a sign that there's a strong will in the White House, in Trump himself to get this passed.
That, to me, indicates that it's not dead.
They're just making a compromise and he's fighting it as much as he can.
But I do think that there's a non-zero chance.
Look, OK, I'll say this, right?
If this passes, right, if this actually passes, the entire market is pricing in this failing, right?
That would be a huge bullish surprise to the upside.
And that could send us into the high 70s, which could flip us technically back into a bull market.
That could cause people to panic sell, and it gets reflexive at that panic buy rather than rush back into the market.
And price could get reflexive quite quickly.
This could be a very significant catalyst, especially because there's so low volume.
There's so low leverage.
There's no speculation.
Bitcoin has just been a flat pancake for a long time.
This could really cause a major catalyst to the upside just because almost everybody is pricing this in to fail.
And I don't think it has failed.
It's not dead yet.
Until this Congress actually adjourns and ends, there's still a chance that this passes.
That is a very non-zero, short-term, strong, bullish catalyst if that happens.
So look, I think that the risk is to the upside on Bitcoin here.
That's why I have such a large position in it.
That's why I'm watching it so closely because at times when everyone… like completely tunes out, you could get these surprises that could flip the markets on you really quick.
And then you could be, instead of being like, you know, we had a whole month to buy at 60K, suddenly you're looking at trying to chase the price over 80K and trying to get a position, an entry that never comes.
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What's going on with rates, John?
I think we haven't we haven't chatted macro in a while.
I mean, I'm following obviously that, you know.
S&P and everything else, which seems relatively happy today, or at least to start the week.
But I guess there's this notion going on that rates will not be raised anytime soon.
But that seems like it's something that changes every week, despite what Kevin Warsh has said.
This whole year, I have been saying that I don't think the Fed is going to raise rates.
And the reason for this is because Scott Bessent, Donald Trump.
Kevin Warsh are all playing on the same team and they all have the same plan and they've all been saying that they're not going to raise rates.
And the market's been like, I don't believe you.
I think inflation is going to blow out.
I think the Iran conflict is going to cause energy prices.
to rise and you're going to have to raise rates to control inflation.
We got a jobs report that shows, I mean, we could go into that more if you want to, but the jobs report kind of shows that the jobs situation, the labor market in the country is weaker than people had thought.
The inflation blowout hasn't materialized.
And I think we're likely to see a cooler CPI print in this next round.
So it seems like the inflation fears have kind of passed.
The federal reserve has been kind of.
targeting and pricing in oil at around $100, $115, somewhere in that range.
We're well below that.
We're not going back to that range.
So there's reason to believe that inflation is cooling, the labor market is softening.
Both of those things would suggest that raising interest rates wouldn't be something you'd need to do in this environment.
And Kevin Warsh has these six different task forces at the Federal Reserve to completely reevaluate what data the Federal Reserve is looking at to make decisions about monetary policy, as well as changing the reaction function, meaning what they do to change monetary policy once they get that data that they're bringing in.
All of those things taken together, right, those six different task forces, one of them I think will be hawkish, in other words, in favor of higher interest rate policy.
Five of them, five of the six should be more dovish in favor of lower policy.
So I think that there's the market has been pricing in up until July.
I think it was like three rate hikes this year.
And I've been saying that the market was wrong and that that was going to come down after July, after this jobs report, after what we've heard from Kevin Warsh.
The market is now pricing in one rate hike.
I think by the time we get to September, it'll probably say no hikes or maybe a cut.
I think the next move from the Fed will be a cut.
It's just going to take us a while.
frankly, take Kevin Walsh a while to sort of persuade the market, persuade the board, massage the way he's evaluating these things, change the data he's looking at, so forth, and get to that decision point.
But I do think that's where he is paddling the boat, and that's the direction of travel right now.
So I think this is all bullish, right?
Because an interest rate hike would throw cold water on the markets.
He doesn't want to do that.
The flip side of that is that JP Morgan raised their target on the SEP 500 this year to 8,000.
The markets are going to go higher.
And I don't want to say like...
If we're not in a bubble, we're going to get into a bubble.
But that's kind of what the Trump administration is saying they want to do.
They want to run the economy hot, which means, generally speaking, that the business cycle will continue to accelerate.
Asset prices, risk assets, markets will continue to rise in valuations.
And we'll see these things get more stretched and more extended, and the bull run will continue.
So it's bullish.
There's a risk on the other side of this if they don't navigate that carefully, let's say.
But that's what's going on with rates.
The Federal Reserve did not.
raise interest rates even though some people were expecting them to it seems like they may not and uh they may actually even end up going to a cut before a hike um and that's generally bullish for for risk assets and um yeah that's kind of the update on that situation would they try to is there a world where they wait until after midterms because like you're saying they're all working on the same team whether you believe it's all one big you know uh conspiracy effort to just you know make the economy look beautiful midterms, right?
To try and combat that expected Democrat win.
Is that, and not to talk politics, but I'm just saying strategically, it would make more sense to not raise pre-midterms.
And then if you have to go through that pain to raise, you would do it afterwards.
It's not that linear.
It's not that simple, naturally.
But that also seems it's like after that, you've got two more years to kind of, you know.
you know, fix things and get it, get it into a healthy spot, but also run it hot in time for then the next election.
Yeah.
I think that there are some people who think that there might be one hike in September, kind of like far enough in advance of the midterms to where it's like, okay, maybe they did get serious about inflation.
They raised rates once.
Yeah.
We'll see.
I don't know.
I don't know if it's like something I have a strong opinion on yet.
I think we got to get a little bit closer to then to kind of suss out what, what I think is going to happen.
But yeah, the market.
People are expecting or not expecting, but some people think that we will get the hike in September, just the one with like dovish guidance kind of being like, hey, yeah, we're hiking rates here, but it's just to make sure we're.
you know, taking inflation seriously, but we're not going to go higher, blah, blah, blah.
We'll see.
It's kind of hard to predict and to figure out the game theory of all of this in terms of what their strategy is going to be or what they think is going to be the right policy choice at the time.
But I personally just, I still don't see a rate hike happening.
I just don't think that there's a lot to support that.
I think also the jobs surprise on the jobs data weakens the likelihood of Warsh doing a rate hike just because.
The numbers were really different.
So I wrote about this too.
It's like the jobs data that came in wasn't just weaker.
It was much weaker and it surprised everybody.
It was like a five sigma, I think, outside of the degree of normal variation event, meaning that almost no forecasters, no analysts of any kind were really accurately predicting this.
So it surprised everybody, which means that like.
people don't have quite a good read or handle on the labor market as they thought they did, which means you should probably be a little bit more careful because if you're misreading the market that badly, you probably don't understand how soft or how weak the labor market could be and a rate hike could really damage the labor market in the country.
So I don't think he wants to do that and I think that makes the likelihood of a hike in September much less.
How does crypto react to all this?
In general, it should be constructive for risk assets.
But this has been the theme of the whole year.
Constructive for risk assets has historically meant crypto, has historically meant altcoins.
Now, in 2026, it means speculation on semiconductors, on AI stocks, on things tied to that trade, because that's where a lot of the leverage, a lot of the speculative capital is.
And this is because of this thing.
I don't know if we've talked about this before or not.
this rise of mimetic investing.
There's always the hot new thing that everybody's trading.
And sometimes it's Bitcoin, sometimes it's gold, sometimes it's micron, sometimes it's SpaceX, whatever it is, right?
It keeps shifting.
But a lot of capital, a lot of speculation leverage concentrates.
in certain assets.
And, you know, Jordy Vischer has been talking about this a lot.
We get these compressed market cycles almost in these assets because it's mimetic trading.
It's like it goes up really, really fast, comes down really fast, and then it moves on to another speculative asset, another asset to speculate on.
And because there's so much consensus, because everyone's getting their information from Claude or wherever they're getting their information, they're all trying to get leveraged on the same thing and trying to outperform.
there's like this casinification of all of these asset markets.
It just kind of keeps happening and it keeps moving quickly.
So you can either play that game or you can ignore that and try to be a value investor.
But either way, you're going to probably have a rough time in the markets, whichever way you go on that.
What I think I feel like, you know, and I alluded to this in the intro, is that there are a lot of relatively positive signs as well for crypto right now.
And you're pointing to, I don't know where you wrote this, I think maybe even we're chatting before, and I've seen this on the timeline as well, the net inflows to Bitcoin are really good in the last like, what, couple months, right?
Like, and so we're seeing like a lot of money coming in and very little leaving as well.
Right.
So clearly there's somebody there's a lot of people out there, a lot of big money that is not playing this bottoming game.
Right.
That's what I mean.
I think that's only only in like the last week or so.
Like we saw about eight hundred million dollars of inflows into Bitcoin ETFs in the last week.
And so it seems like in hedge funds are now starting to get long positions on Bitcoin open for the first time in years in size.
And so I think.
Michael Saylor, bear markets usually end on bad news, not moving the markets down.
And Michael Saylor has been selling Bitcoin here pretty consistently or selling strategy stock to raise his USD reserve, but just specifically not buying Bitcoin, right?
And he's been selling his Bitcoin position and the market hasn't reacted, hasn't gone down.
And so when he first sold a few Bitcoin, whatever it was, like 30 Bitcoins, I remember his first sell was very small and that got a big market reaction.
But then after that, He's been selling...
a pretty decent amount of his position, but he hasn't moved the markets.
And so that I think is a signal that there's capital coming in.
There's capital that's coming in, even though one of the biggest whales is selling a little bit or at least not buying.
And that's a sign that the tide may be turning or at least the bottom may be forming.
We'll see how durable that bottom is.
But those are some recent signs we've seen that, yeah, maybe Bitcoin is starting to show some strength here and put in a bottom.
But it's until it gets, like I said, until it gets a sizable move in one direction, like a breakdown into the 50s.
break up back into the lower mid seventies, it still feels like it's just ping ponging in a very tight range right now.
So it's trying to make up its mind.
John, what are you watching this week then?
With all that in mind, clearly it's no longer something that's like super, super top of mind.
I feel like it's, it's still kind of just, it's a waiting game, but what, what is on your mind this week?
I'm just going to check in with a lot of people this week.
I'm going to talk to some very smart people about what they're doing.
I think the whole thing right now for me is if you're in AI, pivot to crypto.
This is where you should be putting your attention.
This is where you should be thinking about how you're building your positioning for the next cycle.
This is where you should be allocating your capital.
Formulate a strategy that makes sense for you.
Talk to a lot of smart people, see what they're thinking, see how they're playing this.
And they come up with a plan that makes sense for you and your strategy because now is the time to make those decisions, not in November when everybody has front run you and everybody is into their positions.
I'm talking to the guys at Bitwise about how they're advising their clients around this.
I'm talking to Matthew Siegel, also from VanEck, about how they're advising their clients on this.
There's many hundreds of billions of dollars of capital that is not trading on emotion.
They are not trading based on attention or vibes or what's hot in the Discord chat right now.
allocating strategically into Bitcoin because they want a long-term position in this.
And if you don't get ahead of them, you're going to be chasing them and chasing them into a trade that they've already been in long before you should have been.
So I think that's what I'm doing right now this week is just talking to a lot of people to get their thoughts on this and how they're advising people because I think having that forward-looking outlook right now is the right attitude.
Bitcoin, like it's...
Maybe found a bottom, maybe not, but it is forming a bottom for sure.
So I think the conversations about 30K aren't as interesting to me right now as it is to start thinking about, okay, the next cycle is coming.
The next bull run for Bitcoin is coming.
How are you positioning for that?
When do you...
DCA based on how much capital you want to put in or what position percentage of your portfolio you want or what time on the calendar or et cetera.
So thinking about that's what I'm going to be spending some time on this week.
And then I'm going to be talking to some people a lot about the Clarity Act because it is not finished.
It is not over.
And there is a lot still happening there that's alive.
people aren't paying attention to.
And I'm going to be doing some conversations about developments in the crypto ecosystem as well.
New things are being built and shipped all the time.
Crypto hasn't stopped just because no one's paying attention.
People are still building and shipping really cool, powerful things.
And it's getting really crazy how quickly so much capital is coming into crypto.
Standard Charter put out a report, I think yesterday or today.
Very recently anyway, where they were saying that they're estimating $4 trillion of assets being on chain by 2028.
And based on what the timelines the SEC has laid out and the adoption that we're seeing of tokenized assets just exploding, I don't think that's too wild of a suggestion.
Stablecoins alone might… account for at least like half of that.
So we'll see what happens with all of this, but there's just a lot going on.
It's a great time to be paying attention because you can invest with your dollars, but you can also invest with your attention, your education.
So that's what I'm doing this week.
I love it.
That's, I feel like you do that every week, but I like the conversations you got coming up and it's a good way to frame it.
And you know what?
I think we literally recorded for 30 minutes and you didn't say Ethereum once.
And that, that.
That's insane.
And I feel like.
No, no, no.
No, no.
Okay, go ahead.
You're going to say Ethereum.
I'm going to say Ethereum.
So, okay.
So Ethereum last week, I got to interview the co-founders of Ethereum Institutional, which is this new nonprofit that's doing direct to institutional outreach for Ethereum.
And they talked about how they have like four quadrants they divided up the whole globe into.
And they are personally talking to the top 200 financial institutions in every single one of those quadrants.
And as well, anybody else who reaches out to them.
And that episode got a lot of attention.
Nobody's ever interviewed these people before LG.
Like these guys are literally helping.
move global finance on chain on not on chain onto ethereum because brian armstrong has this hang up where he can't say the word ethereum even though he keeps talking about ethereum but ethereum is winning and ethereum institutional is making that happen nobody had ever done a podcast with these guys before so i got them all together sat them down and like was like hey who are you you know and um it was really exciting and it's just like a lot of cool things that are going on um and yeah i don't know dude i'm super bullish on ethereum and thank you for reminding me to say that because it's i didn't i wasn't i wasn't I wasn't implying that you were not bullish on Ethereum.
OK, don't get me wrong.
That was not the implication.
I was just saying that we managed to talk about other things.
Maybe next week we can do one entirely about Ethereum.
OK, like how about that?
Let's just go back.
People love it.
People love when we talk about Ethereum.
They want to hear more about Ethereum.
They want to know your thoughts on Ethereum.
You're like the hot new Ethereum bull.
So maybe next week we'll talk more Ethereum and whatever else is going on.
But I think we can wrap there.
John, great to see you again, man.
I will be back next week.
The plan is for me to be back next week.
So we're going to make that happen.
And yeah, I'll see you then, man.
All right, LG.
Thanks.
Glad to have you back.
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