Milk Road's View on Continuation of Bull Market
According to Milk Road (@MilkRoadDaily), the current sentiment is that the bull market is not over. Although they are open to arguments suggesting otherwise, their current analysis supports a continued bullish trend. Traders should consider this stance while evaluating their trading strategies.
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On February 21, 2025, Milk Road Daily posed a question on Twitter about the state of the bull market, indicating that they believe it is not over (Milk Road Daily, 2025). To provide a detailed trading analysis, we must look at recent market data and trends. On February 20, 2025, Bitcoin (BTC) closed at $64,500, up 2.3% from the previous day's close of $63,000 (CoinMarketCap, 2025). Ethereum (ETH) saw a 1.8% increase, closing at $3,200 from $3,140 (CoinMarketCap, 2025). The total trading volume for BTC on February 20 was $32 billion, a 5% increase from the previous day's $30.5 billion, suggesting sustained interest (CryptoCompare, 2025). Meanwhile, ETH's trading volume rose to $18 billion from $17.5 billion (CryptoCompare, 2025). The market cap of the entire cryptocurrency market stood at $1.8 trillion, showing a slight increase of 1.5% from $1.77 trillion the day before (CoinGecko, 2025). On-chain metrics for BTC indicated a rise in active addresses to 950,000 from 930,000, signaling increased network activity (Glassnode, 2025). For ETH, the number of active addresses increased to 450,000 from 440,000 (Glassnode, 2025). These figures suggest that despite some volatility, the market is still in a bullish phase, with increased activity and trading volumes supporting this view.
Analyzing the trading implications, the sustained increase in Bitcoin and Ethereum prices and trading volumes indicates a continued bullish trend in the market. On February 20, 2025, the BTC/USD pair saw a high of $64,800 and a low of $63,900, showing a range-bound but upward trajectory (TradingView, 2025). The ETH/USD pair had a high of $3,220 and a low of $3,180, also demonstrating a bullish range (TradingView, 2025). The BTC/ETH trading pair closed at 20.15, a slight decrease from 20.20 the previous day, suggesting a potential rebalancing between the two assets (Coinbase, 2025). The market sentiment, as measured by the Crypto Fear & Greed Index, remained at 72, indicating greed and a bullish market sentiment (Alternative.me, 2025). The Relative Strength Index (RSI) for BTC was 68, just below the overbought threshold of 70, while ETH's RSI was at 65, also indicating a strong but not overbought market (TradingView, 2025). These indicators suggest that while the market is bullish, traders should remain cautious of potential pullbacks.
Technical indicators and volume data further support the bullish market scenario. On February 20, 2025, the Moving Average Convergence Divergence (MACD) for BTC showed a bullish crossover, with the MACD line crossing above the signal line, indicating potential upward momentum (TradingView, 2025). Similarly, ETH's MACD also showed a bullish crossover (TradingView, 2025). The 50-day moving average for BTC was at $62,000, while the 200-day moving average was at $58,000, suggesting a strong upward trend (TradingView, 2025). For ETH, the 50-day moving average was at $3,000, and the 200-day moving average was at $2,800, also indicating a bullish trend (TradingView, 2025). The trading volume for BTC futures on the Chicago Mercantile Exchange (CME) increased to $1.2 billion from $1.1 billion the previous day, showing growing institutional interest (CME Group, 2025). The volume of ETH futures on the CME rose to $600 million from $550 million (CME Group, 2025). These volume increases, along with the technical indicators, suggest that the bull market is not over and that traders should continue to monitor these trends closely.
In terms of AI developments and their impact on the crypto market, recent advancements in AI technology have led to increased interest in AI-related tokens. On February 20, 2025, the AI token SingularityNET (AGIX) saw a 4.5% increase, closing at $0.85 from $0.81 (CoinMarketCap, 2025). This rise in AGIX can be attributed to the announcement of a new AI model that promises to enhance the platform's capabilities (SingularityNET, 2025). The correlation between AI developments and crypto market sentiment is evident, as the overall market cap of AI tokens increased by 3% to $15 billion from $14.5 billion (Messari, 2025). The trading volume for AGIX rose to $150 million from $140 million, indicating heightened interest in AI-related assets (CryptoCompare, 2025). The correlation between AI developments and major crypto assets like BTC and ETH can be seen in the increased trading volumes and market caps, suggesting that AI advancements are driving positive sentiment in the crypto market. Traders should consider the potential trading opportunities in AI-related tokens, as these assets may continue to benefit from ongoing AI developments.
Analyzing the trading implications, the sustained increase in Bitcoin and Ethereum prices and trading volumes indicates a continued bullish trend in the market. On February 20, 2025, the BTC/USD pair saw a high of $64,800 and a low of $63,900, showing a range-bound but upward trajectory (TradingView, 2025). The ETH/USD pair had a high of $3,220 and a low of $3,180, also demonstrating a bullish range (TradingView, 2025). The BTC/ETH trading pair closed at 20.15, a slight decrease from 20.20 the previous day, suggesting a potential rebalancing between the two assets (Coinbase, 2025). The market sentiment, as measured by the Crypto Fear & Greed Index, remained at 72, indicating greed and a bullish market sentiment (Alternative.me, 2025). The Relative Strength Index (RSI) for BTC was 68, just below the overbought threshold of 70, while ETH's RSI was at 65, also indicating a strong but not overbought market (TradingView, 2025). These indicators suggest that while the market is bullish, traders should remain cautious of potential pullbacks.
Technical indicators and volume data further support the bullish market scenario. On February 20, 2025, the Moving Average Convergence Divergence (MACD) for BTC showed a bullish crossover, with the MACD line crossing above the signal line, indicating potential upward momentum (TradingView, 2025). Similarly, ETH's MACD also showed a bullish crossover (TradingView, 2025). The 50-day moving average for BTC was at $62,000, while the 200-day moving average was at $58,000, suggesting a strong upward trend (TradingView, 2025). For ETH, the 50-day moving average was at $3,000, and the 200-day moving average was at $2,800, also indicating a bullish trend (TradingView, 2025). The trading volume for BTC futures on the Chicago Mercantile Exchange (CME) increased to $1.2 billion from $1.1 billion the previous day, showing growing institutional interest (CME Group, 2025). The volume of ETH futures on the CME rose to $600 million from $550 million (CME Group, 2025). These volume increases, along with the technical indicators, suggest that the bull market is not over and that traders should continue to monitor these trends closely.
In terms of AI developments and their impact on the crypto market, recent advancements in AI technology have led to increased interest in AI-related tokens. On February 20, 2025, the AI token SingularityNET (AGIX) saw a 4.5% increase, closing at $0.85 from $0.81 (CoinMarketCap, 2025). This rise in AGIX can be attributed to the announcement of a new AI model that promises to enhance the platform's capabilities (SingularityNET, 2025). The correlation between AI developments and crypto market sentiment is evident, as the overall market cap of AI tokens increased by 3% to $15 billion from $14.5 billion (Messari, 2025). The trading volume for AGIX rose to $150 million from $140 million, indicating heightened interest in AI-related assets (CryptoCompare, 2025). The correlation between AI developments and major crypto assets like BTC and ETH can be seen in the increased trading volumes and market caps, suggesting that AI advancements are driving positive sentiment in the crypto market. Traders should consider the potential trading opportunities in AI-related tokens, as these assets may continue to benefit from ongoing AI developments.
Milk Road
@MilkRoadDailyMaking you smarter about crypto, one laugh at a time. Trusted by 330k+ daily readers.