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GM. This is Milk Road – your easy, breezy, daily crypto read.

Here’s what we got for you today:

• ✍️ Predicting the 2025 market top

• ✍️ Trump’s World Liberty crypto holdings revealed!

• 🥛 PRO “Where are we in the cycle?” indicators

• 🎙️ The Milk Road Show: How to Build a 100x Crypto Moon Bag w/ Zeneca

• 🍪 Blackrock suggests a 2% Bitcoin allocation

HAS BITCOIN DOMINANCE PEAKED? HERE’S WHY YOU SHOULD CARE 🕵️

There’s a magical chart that can predict altcoin seasons and crypto market tops.

It’s called Bitcoin dominance (aka BTC.D).

In a nutshell, it measures how much of the total crypto market cap is made up of Bitcoin.

(If Bitcoin is going up faster than altcoins, Bitcoin dominance goes up. If altcoins are going up faster than Bitcoin – dominance goes down).

But the magic really happens when you zoom way out on the Bitcoin dominance chart…

Check this out:

See the green circles highlighted on the chart? 

The first one marks the BTC.D peak of the last cycle – after that, BTC.D collapsed as altcoins started going BONKERS.

The second green circle marks a potential top for Bitcoin dominance just last month – which means a multi-month altcoin pump could well be ahead of us!

In fact, the early warning signs are already starting to show themselves in $ETH (the king of altcoins)…

1/ The $ETH/$BTC pair looks like it may have bottomed out

$ETH/$BTC represents how much Ethereum is worth when priced in Bitcoin (when it dips – 1 $ETH buys less $BTC. When it rises – 1 $ETH buys more $BTC).

…notice a similar pattern between the $ETH/$BTC pair and Bitcoin dominance?

They both changed course around this time in the last cycle.

2/ The $ETH ETFs are picking up steam!

Check out this table — the percentage of flows that the $ETH ETFs consume compared to the $BTC ETFs has been growing of late!

Translation: the $ETH ETFs are stealing more and more of the spotlight (investor dollars) from the $BTC ETFs of late!

Ok, but what about Bitcoin dominance being able to predict market tops? (Feels like we just skipped right past that).

Check out the green lines on this BTC.D chart:

The first two lines represent the tops of the previous two bull runs, and they occurred roughly 10-11 months after Bitcoin dominance topped.

The third line? It represents the potential market top for this bull run (Oct 2025), if Bitcoin dominance proves to have topped out last month.

The takeaway: 

If BTC.D has in fact topped, we should see 10-11 months of madness, in which both Bitcoin and alts accelerate (with alts leading the charge).

COTD: TRUMP’S WORLD LIBERTY CRYPTO HOLDINGS 💰

The crypto wallet attached to Trump’s ‘World Liberty Financial’ DeFi platform just started adding to its bags.

And because it’s all being done onchain – we can see what he’s holding!

…turns out, Trump (or at least, World Liberty Financial) is an $ETH maxi. 👇

Wondering what that red box is? Everything inside of it has been purchased by World Liberty Financial, while everything outside of it has been sent to it.

(It’s an easy way to get cheap brand awareness for tokens – send a couple of dollars worth of your token to the president → have it show up in his public holdings).

As for the stuff that has been consciously purchased by the wallet of late? 

It’s these bad boys. 👇

And wouldn’t you know it…look what’s been pumping over the last 24hrs. 👇

A US president is aping into altcoins…

What a wild time to be alive!

IT’S TIME FOR THE SECOND ANNUAL MILK ROAD AWARDS! 🏆

What, this? 

Oh, it’s nothing…we’re just preparing…

It’s that time of year again – the second annual Milk Road Awards are upon us!

And they’re being voted for by YOU 🫵

The categories are:

1. Memecoin of the Year 🤙

2. Comeback of the Year ⚰️

3. Biggest Fumble of the Year 🤦‍♂️

4. Villain of the Year 👹

5. Blockchain of the Year 👑

6. Breakout Product of the Year 🚀

7. Crypto Advocate of the Year 📣

8. Twitter Personality of the Year 🗣️

9. Wallet of the Year 💰

Now, the big question is:

What’re you still doing here?

It’s time to vote! Click below to make your voice heard. 👇

PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔 

Alts are up…

Bitcoin is hovering around $100k…

So where to from here? Time to check the market cycle!

Knowing where we are in the current cycle is crucial for capturing the best opportunities.

The goal is to spot the bull market peak before the inevitable bear market hits your bags hard.

Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late.

Below are the 6 indicators we track, with a color-coded system to show how close they are to signalling the market peak:

🟢 Plenty of room to run 🏄

🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️

🔴 We’ve hit the market top indicator 🚨

Every Thursday, we update these 6 indicators exclusively for PRO members.

Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point.

Let's dive in and see if we're anywhere near the top of this bull market. 👇

BITE-SIZED COOKIES FOR THE ROAD 🍪

Ledger unveils the Ledger Flex. Loved the Ledger Stax but found it too pricey? Ledger Flex is the answer - similar product but much easier on your wallet.

Avalanche raises $250 million. New token raises = more token unlocks down the line. No sell pressure coming soon but gotta just think about this with every token raise.

Blackrock suggests a 2% Bitcoin allocation. Just 2%? Come on, Blackrock. But seriously, the fact they’re even suggesting a 2% allocation is absolutely wild.

PPI inflation came in higher than expected. Yesterday, we said that the macro scare was over but small doubts are creeping back in now. That said, there’s still a 98% chance of a December rate cut, so it’s not a huge concern—just wanted to keep you in the loop.

We’re growing our team! We have 5 open positions across Milk Road and Impact3 (our parent company). Think you’ve got what it takes? Click above to explore the roles and apply.

a16z-backed Forta launches Firewall to prevent exploits. Alright let’s face it, hacks in crypto are everywhere. But at least we have people like Forta out there looking out for us. Yeww.*

* This is sponsored content.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.