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FOLLOW REBALANCES → PREDICT DIPS 🔮

Did you feel it? That dip at the end of May? 

(What was that about?)

Turns out that it was caused by “rebalancing” and it's something you can actually spot ahead of time.

(Yeah, we’re stealing this insight from Tomas’ latest Milk Road Macro article. And no, we don’t feel bad about it.)

See, big institutions (think: pension funds, insurance companies, endowment funds, etc.) are often mandated to hold specific ratios of stocks and bonds – typically 60% stocks and 40% bonds.

So say if stocks do well, while bonds weaken – funds will have to “rebalance” at the end of the month, selling stocks and reallocating some of that cash to bonds.

And guess what happened in May…

1/ Stocks went up 7%

2/ While bonds went down -6.7%

Cool. What does this have to do with crypto?

These institutions don’t just hold the S&P 500 – they hold a whole range of exchange traded products and funds (aka: ETPs and ETFs).

…and some of those ETFs hold $BTC and $ETH.

Which means there’s the potential for crypto to be affected by this rebalancing. 

For example – at the end of May, Bitcoin’s price just so happened to see a ~5% drop…

And here’s the kicker:

Some institutions rebalance quarterly…which means at the end of each quarter more companies will rebalance in total…and the end of June marks the end of Q2…

So if stocks significantly outperform bonds this month, June’s rebalancing could cause an even bigger dip than May’s!

(I think Tomas may be on to something…)

Now, if you found value in this story, we have bad news…

We’re not going to be covering these kinds of macro insights all that often…

The good news is – Milk Road Macro drops insights/research like this every Tuesday and Thursday.

(You can sign up here)

Ok, now it's your turn to yap – once you’re done reading, scroll down to the 'RATE TODAY’S EDITION' and give us a piece of your mind. 🫡

CORPORATE ADOPTION OF BITCOIN IS INCREASING (FAST) 💪

Fun fact: did you know 3% of all Bitcoin is held by corporate treasuries?

Ok, ok, yeah – Strategy ($MSTR) makes up more than ~90% of those holdings, but new companies are joining the charge every other week!

Check this out…

We went from Strategy and Metaplanet being the only companies to be actively allocating to Bitcoin in 2024, to this in May alone:

And before you say it – we know! These are baby amounts compared to $MSTR’s 580,955 BTC…

But it’s not the number of Bitcoin held by any one company that matters most here – but the total amount of companies holding Bitcoin.

That’s what drives the game theory:

The more corporations that add $BTC to their treasury → the greater the FOMO → the more other companies will follow → the higher Bitcoin’s price climbs → repeat…

Here’s the math on that:

Increased adoption from deep pocketed entities = number go up.

(Hell yeah.)

HOW TO BUILD A BULLETPROOF CRYPTO PORTFOLIO 🔫

Look, I’ll be honest…

If I see Mark Yusko’s face on a YouTube thumbnail – I’m clicking it. Why? ‘Cause Mark’s a macro investor that not only knows his stuff – he also has the gift of the gab.

Great insights + easy listening = no brainer.

And yesterday, we had mark on The Milk Road Show to lay out why:

It’s a banger of an episode! Click below to watch it now. 🤝

YouTube | Spotify | Apple Podcasts

BITE-SIZED COOKIES FOR THE ROAD 🍪

Raise your hand if you hate bridging. We just dropped an article on how you can trade without bridging or paying gas fees with Okto Wallet*. 

What do Uber, Apple, X, Airbnb and Google have in common? They’re all looking at stablecoins for global payments.

$CRCL had a monster first day on the job. It surged nearly 170% yesterday and another 20% today. Absolutely massive launch!

Nearly $1B in crypto got liquidated in a single day. The culprit? The beef between Trump and Musk.

We’re hosting a meetup at Permissionless! If you’re hanging around New York on June 23rd, come grab a beer with the Milk Road team.

Invest as you spend with the Gemini Credit Card®. Get approved by 6/30/25 to earn $200 in Bitcoin when you spend $3,000 in your first 90 days. Issued by WebBank. Terms apply.**

*this is sponsored content.
**this is partner content.

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