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GM. This is Milk Road. We boil down everything that’s happening in crypto, so you can sound smart to your friends!

Here’s what we got for you today:

NEW ETF APPROVALS INCOMING? 🧐

There’s one in every graduating year.

The burnout/bully from high school who goes on to find god…or meditation…or psychedelics…

Whichever path they choose, the result is always the same: when you run into them years down the line – they’re nice all of a sudden (?).

It’s a weird experience.

And it feels similar to what the crypto industry is experiencing with the SEC. 

(They’re nice now? Sure looks like it). 👇

1/ The allegations of securities violations levelled against Binance have just been paused. 

Why? Because the case may soon be irrelevant.

With the launch of the SEC’s new crypto task force, both sides are anticipating a shift in regulatory approach. 

2/ The chance of new ETF approvals in 2025 has flipped positive across a range of assets

Here are James and Eric’s findings (“Jeric’s findings” if you’re nasty)…

This is a HUGE shift in sentiment, within a very short amount of time

For context, just a few months ago, these percentages were very different (almost across the board). 👇

The best part? These are probably going to be the worst ‘Odds Of Approval’ numbers we’re going to see all year.

As time goes on, more and more of the old regulatory dynamics are going to be ironed out of the SEC’s practices.

But where do you stand?

70% OF TOKENS HAVE DROPPED BELOW THEIR US ELECTION PRICES 🥴

The lesson here? 

Liquidity (aka: fresh cash sloshing around financial markets) drives everything long term.

Not narratives, not hype, not that one token your friend is convinced is going to 100x…

It’s all about liquidity!

The proof? This. 👇

The largest narrative of the past 12 months has been ‘Trump is in and is going to save crypto and pump all of our bags till the end of time.’

Which is a catchy pitch – and one that worked!

…for a time.

From election day (Nov 4th) to Dec 16th 2024, crypto ripped ~64%, adding $1.46 TRILLION to its market cap in just under a month and a half!

But at the same time, the amount of new cash entering global markets (global liquidity) was going down. 👇

Which meant that once the Trump narrative had run its course, there wasn’t enough fresh capital at hand to keep everything moving (or at the very least, stable).

As a result, almost 70% of coins/tokens have dropped below their November 4th prices (oooft)! 🥴

(The higher the red line climbs, the greater percentage of coins/tokens have fallen below their price at election time).

So if you’ve been wondering why the market has been so damn moody even while Trump has been dropping a whole bunch of crypto-friendly executive orders, alongside the SEC’s change in demeanour…

Blame the leading indicator of market performance: global liquidity.

The good news is: between now and the end of the year, liquidity is set to increase – hell, it’s already increasing!

So your only job now is to not let the market’s movements psych you out between now and then. 🧘

Namaste, ya’ll.

MILK ROAD PRO PORTFOLIO UPDATES 📊

Markets are bottoming…

Sentiment is the lowest it’s been since 2023…

New potential price catalysts are struggling to find their mark…

So how is this affecting the Milk Road PRO Portfolio?

Well, you’re about to find out!

Disclosure: We are not a day trading portfolio so don’t expect a high volume of trades. Read our “How To Build a Crypto Portfolio” report to learn more about our portfolio strategy.

Portfolio performance 📉

The Milk Road PRO Portfolio saw a slight decrease over the past 7 days. Our portfolio value is at $110.9K, down 2.65% since last week.

Last week didn’t bring anything major worth commenting on. Stocks are trading near all-time highs, signaling that everything is stable—we just need to stay patient and wait for the next big move up.

Will it happen next week or next month? No one knows. In fact, we wouldn’t be surprised if markets continue to move sideways for a while.

Perhaps stocks are hitting new all-time highs while the crypto market is recovering and gearing up for a major move! 🚀

Portfolio changes 👀

BITE-SIZED COOKIES FOR THE ROAD 🍪

We’ve whipped up an awesome deal with NordVPN. 72% off on 2-year plans + 6 months free of NordVPN. This honestly seems too good to be true.**

Unichain, Uniswap’s L2, has arrived. It already has 80+ apps live. Day 1 but they’re already making moves.

Grayscale files for a Cardano ETF. Is this enough for us to change our stance on Cardano? Not yet.

Gumi (a Japanese game studio) is jumping on the Bitcoin train. Following the footsteps of Metaplanet, seems like the Bitcoin fever is spreading in Japan.

We’re hiring a social media manager! You’ll be the voice of Milk Road across X, Instagram, Youtube and maybe even more. Oh, and we’re a blast to work with.

Leverage trading can be risky if you don’t know what you’re doing. That’s why we put together a guide to help make it a little easier.

**This is partner 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.