🥛 50 Shades of Green 🤑

PLUS: Will BTC hit a new ATH before or after the halving? 🤔                                                                                                                                                                                                                                                                                                                                                                                                                 February 27, 2024 | [Read Online]( Today’s edition is brought to you by [CoinTracker]( – a crypto tax solution that simplifies filing with thousands of seamless integrations and auto-import to TurboTax. [Generate accurate reports and file in minutes today!]( GM. This is Milk Road. We track crypto trends like your nosy neighbor - always watching (and occasionally gossiping). Here’s what we got for you today: - Prices are 50 shades of green 🤑 - Will BTC hit a new all-time before or after the Halving? 🤔 - Graph of the Day: Stablecoins are on the rise 📈 - 3 reasons ETH has outpaced BTC this year 🍪 [Prices as of 12:00 PM ET. Click here for our Fear & Greed Index]( PRICES ARE 50 SHADES OF GREEN 🤑 Sometimes in life… you just gotta let the money do the talking. So today we’re gonna do exactly that. No witty intro. No funny story. Nada. Instead, enjoy the view: Beautiful, innit? - [BTC]( moonwalked past $57K for the first time since November 2021. - [ETH]( cha-cha slid past $3,200 for the first time in 22 months. - Many [altcoins]( are seeing double-digit gains, with some jumping over 50% in a day. - The [fear & greed index]( is almost at 80, for the first time in 2+ years. So what’s behind the recent pump? Two words… Institutional flows (which, btw, would also be a great name for a rap album). - The 9 Bitcoin ETFs hit [$2.4B]( in trading volume yesterday, a new all-time high. - Institutional crypto funds saw [$598M]( in total inflows last week, the 4th straight week of inflows. - Not to mention… Michael Saylor’s been eating BTC for breakfast, lunch, and dinner. His firm (MicroStrategy) recently bought another [$155M]( in BTC. The bottom line: the [Bitcoin ETFs]( changed the crypto game. Matt Hougan (Chief Investment Officer at BitWise) summarized it best in his latest memo… “Previously, only a fraction of the world’s investors could access Bitcoin—mostly self-directed retail investors and technologists. That group drove the price above $40,000. Now, thanks to the ETFs, every investor in the world—financial advisors, family offices, institutions, endowments, and others—can access Bitcoin. It’s like we went from 10 normal people bidding on a house to 100 very wealthy people bidding on a house, overnight. Not surprisingly, the price is going higher. How big a deal is this? Globally, asset and wealth managers control $115 trillion of capital, according to PWC. Almost none of this money could access Bitcoin in 2023. Today it can. If we see a 1% allocation to Bitcoin, that’s more than $1 trillion of buying … a figure that exceeds Bitcoin’s current market capitalization. To put it differently, it’s like Bitcoin had its initial public offering and the market is now finding its true price.” - Matt “Mr. CIO” Hougan So, how’s the crypto community been reacting to the rally? The only way they know how… Memes. A whole lot of them. Here are some of our favorites: [Source: @itsk1cks]( [Source: @0xgaut]( [Source: @aubreystrobel]( [Source: @clockwork_prior]( [Source: @CryptoTea_]( [Source: @boldleonidas]( [Source: @zackvoell]( [COINTRACKER PUTS CRYPTO BACK IN YOUR WALLET]( Ah, tax season - the annual ritual that's about as exciting as watching paint dry, with the added thrill of stress and headaches. But there’s good news! [CoinTracker]( can turn that tax frown upside down and make everything as smooth as butter this tax season. CoinTracker conveniently integrates with TurboTax, H&R Block, or your CPA, and offers complete coverage for Coinbase. You can seamlessly connect your wallets, NFTs, and 23,000+ DeFi smart contracts, allowing you to generate accurate reports and file in just *checks watch* minutes. (And then, once you’re set up, you’ll have access to year-round performance tracking on both desktop and mobile). CoinTracker has been one of the most trusted brands in crypto taxes since launching in 2017. Since then, they’ve served over 2 million satisfied users. But that’s not all. CoinTracker is the official partner of Coinbase, Uniswap, OpenSea, TurboTax, and H&R Block. And just last month, they shipped CoinTracker 2.0 – a massive product release driven entirely by user feedback. Peace of mind awaits. [Join millions of users already saving time and money with CoinTracker!]( WILL BTC HIT A NEW ALL-TIME HIGH BEFORE THE HALVING? 🤔 The [Bitcoin Halving]( is right around the corner... T-54 days. (Btw, you can track the countdown [here](). The big event usually leads to 2 things: 1/ Grumpy Bitcoin [miners](. Just imagine if every 4 years your boss came up to you and said your pay was going to double get cut in half. I’d be pretty mad too. 2/ BTC hits a new all-time high ([ATH]() price. This usually happens after the Halving. Well, check it out. BTC is A LOT closer to its ATH than usual… [Source: @LadyofCrypto1]( So we got curious… what do you think? Will BTC hit a new all-time high BEFORE or AFTER the halving? [Before]( [After]( Click on your answer above to vote! We’ll share the results tomorrow. GRAPH OF THE DAY: STABLECOINS ARE ON THE RISE 📈 The [stablecoin]( market cap just hit $140B+ for the first time since December 2022. [Source: K33 Research]( Why this matters: Some analysts view the changes in stablecoin supply as a “thermometer” for whether money is flowing in or out of crypto. Here’s a quick cheat sheet you can scribble on your hands (you’re welcome): - Increase in stablecoin supply = market heating up. - Decrease in stablecoin supply = market cooling down. Right now, the temperature’s heating up like [Sean Paul’s hit single.]( BITE-SIZED COOKIES FOR THE ROAD 🍪 [Get your hands on the Milk Man’s On-chain Crypto Toolkit.]( There are a ton of tools out there, and it is impossible to know and cover them all but [these are some tools]( that are free to use and we have experience with personally. [ETH has outpaced BTC so far this year](. There are 3 big reasons… 1) an ETH ETF is expected to launch later this year, 2) Ethereum’s next big upgrade is in a few weeks, and 3) ETH held on exchanges is at an all-time low. [Memecoins like PEPE and WIF jumped 50% yesterday](. According to CoinGecko, the “memecoin industry” saw an average gain of 13% on the day. [Uniswap launched 3 new tools to make token swapping easier](. The tools include a Uniswap extension tool, a function for limit orders on its web app, and a new data and insights web page. [Lido’s total value locked (TVL) jumped to over $30B](. The liquid staking protocol now controls 32% of staked ETH. [OKX is launching a new localized version of the platform in Turkey](. OKX will offer USDT/TRY, BTC/TRY, and ETH/TRY trading pairs for its local customers. [Hut 8 announced it will use its BTC reserves in a “new treasury strategy.”]( According to the company’s press release, “Bitcoin held in reserve may be deployed through direct sales, option strategies or other approaches.” *This is sponsored content MILKY MEMES 🤣 [Source: @naiivememe]( [Source: @TheBTCTherapist]( RATE TODAY’S EDITION What'd you think of today's edition? [🥛🥛🥛🥛🥛 F**king great]( [🥛🥛🥛 Meh, do better]( [🥛 You didn't bring the heat]( Share Milk Road You currently have 0 referrals, only 1 away from receiving Milk Road's 2024 Bull Run Survival Guide. [Milk Road's 2024 Bull Run Survival Guide]( [Click to Share]( Or copy and paste this link to others: ROADER REVIEW OF THE DAY VITALIK PIC OF THE DAY [tw profile: Milk Road Images] Milk Road Images @MilkRoadImages [tw] The shirt says it all... Feb 27, 2024 0 Likes 0 Retweets 0 Replies DISCLAIMER: None of this is financial advice. 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