Bitcoin’s Dip, Ethereum’s Breakout Setup & Altcoins Going Vertical

John Gillen (0:00)

If this bull market confirms, if all of this holds, I think directionally we move from 3 trillion to 10 trillion.

LG (0:06)

What's up, everybody? It's LG Deuce out here, and welcome to the Milk Road Show, the daily crypto show that just lured about QNT, and now I'm pissed that no one told me about it before, despite it having gone up 5X. What the hell, man? Today is September 28th, 2026 A bit of a slowdown today, but listen, this is much better than it was a few weeks ago, and even a few months ago. Altcoins are up big this month, and today we're seeing a natural little pullback, but it also feels like at any moment, any random old token could just pop 500 percent, right? Today, we're back on to talk about how bullish we are, how far this pullback will go, and what the macro may be telling us about what's next, and why some of these tokens are just going off. John's on the show, and we're going to spend an extra 15 minutes after the episode talking about his moves, his alts, and what he's looking at next as part of a Milk Road PRO after hours. So tune in for that, or pay a dollar at the link below to check it out. And a reminder today that our podcast is free and that it wouldn't be possible without our partners at Nexo, the digital asset platform that lets you trade, earn, and borrow all in one place. Keep an ear out for more information about them later in the show.

John, happy Monday, man.

John Gillen (1:09)

Happy Monday, LG. It's good to be here and I'm excited to find out what we're going to talk about this week.

LG (1:15)

Are you happy? Is it a happy Monday for you?

John Gillen (1:17)

Do you feel good? So far, I mean, yeah, look, I was really excited to see Bitcoin hold the weekly close above the May high. So that made me very, very happy. And I think the other side of the coin is that Bitcoin and crypto has sort of confirmed the bull market and the bullishness that they're in. However, the rest of the market, the macro landscape is sort of deteriorating and collapsing around our heads. And so there's a lot that's concerning in that, but then there's a lot of bullish momentum in crypto. So there's a lot of reasons to be happy and bullish, but also some short-term uncertainty and some headwinds.

So there's a lot that goes into me being happy this morning, but overall I am happy.

LG (2:00)

I saw a lot of people posting about this weekly close above 83k. Why was that so important?

John Gillen (2:06)

Because Bitcoin broke out of the range that has been in for most of 2026

And confirming that weekly close above 83k and above the high that we put in May in the failed retest of the bear market resistance band, it seems to indicate that the trend is real. This isn't just like a fake out move, like a scam wick before we go into another six more weeks of crypto winter. It seems like this bullish momentum is holding and the price is accepting in this new range above that high, which would imply that the bullish momentum is stronger than the bearish momentum and that we'll probably continue to see higher prices in the near term. So it's just like a really bullish indicator of market strength.

LG (2:51)

It's funny when you talk about the price of Bitcoin, like it is some kind of beast that behaves on its own, but it's really just market. You know what I mean? I just think it's funny that for some reason, there's very clear indicators that's like, just because it closed above this, so that means everybody's bullish now. But it's like, isn't that, how much can you really rely on that? Is I guess what I mean? Because what you've said, I've seen that across the timeline everywhere, especially yesterday as the week closed. So it really had me wonder, but how certain can you be about that?

John Gillen (3:22)

Well, that's the most certainty that we can have, because that is everybody contributing their opinion and figuring out whether or not they're bullish on Bitcoin and articulating that into the markets. And this is telling you now that we're over the 50 week, that means that on the whole, over the last year of price, Bitcoin's price is higher than lower, so the bulls are winning on the last one calendar year of price action on average.

So that is why it all resolves down to price. This is why markets are beautiful when you let people without encumbrance contribute their capital and their point of view into the market. The market generates information and the information is generating right now about Bitcoin is that the market is very bullish on Bitcoin and that's why people are so dialed in specifically on the price action and these key levels on the charts.