While Everyone Is Chasing AI Stocks, This Indicator Says Buy Bitcoin Now w/ Matt Crosby

**Matt Crosby** (0:00)
The fact that we are seeing such incredible bearishness points to me that the most painful scenario is more upside.

**LG Doucet** (0:07)
What's up, everybody? It's LG Doucet here, and welcome to The Milk Road Show, the daily crypto show that feels the summer heat outside, yet can't deny the chill that comes over my body as I stare down another red day on the crypto winter charts. Today is June 16th, 2026 This is it, folks. We are seeing calls for the double bottom of Bitcoin, where a double bottom is basically a famous chart pattern that marks the reversal of the trend. To explain this theory and dive into the on-chain metrics that really matter for Bitcoin right now, we've got one of our favorite guests back on the show, Matt Crosby from Bitcoin Magazine Pro. Today's episode is brought to you by Bitget Stocks 2 with Real Liquidity, Real Dividends, Nexo, Earn Interest, Borrow and Trade Crypto, and CalShe, where your takes finally pay out. Matt, what's going on, man? Happy summer despite still being in the crypto winter.

**Matt Crosby** (0:52)
Well, I was just about to say actually, first thing, you've called it summer, but I know in Canada, I doubt it's that warm. In Northern England, we've definitely not hit summer yet. It's gray and cold and miserable and rainy.

**LG Doucet** (1:05)
That's summer there. It's the same weather the whole time.

**Matt Crosby** (1:09)
We're not a million miles away, but yeah, it's depressing. I look at the charts, everything's down. I look outside, it's gray and miserable. I can't escape it, but as always, it's a pleasure to be here.

**LG Doucet** (1:20)
It's World Cup and that's summertime, unless it's the last World Cup, which was in the winter. But usually, World Cup means summertime and you can sit outdoor at the pub and watch your team, watch your country play for glory at a strange time of day, which I'm sure for you right now is probably six in the morning or something.

**Matt Crosby** (1:37)
Yeah, certainly half a non-alcoholic shandy or two with the England football match tomorrow. It's not too bad. It's like nine, 10 PM kickoff, but yeah, very into World Cup.

**LG Doucet** (1:46)
What's a shandy? What's a non-alcoholic shandy?

**Matt Crosby** (1:51)
So a shandy is half lemonade and half beer. So half of a non-alcoholic half beer lemonade is like my joke go to drink. That's all I drink if anyone from work asks.

**LG Doucet** (2:03)
Okay. So half alcoholic lemonade. I think we have names for that in Canada. I think they're called coolers or something a little softer, or maybe Mike's Hard Lemonade if I'm dating myself. Anyways, let's talk about Bitcoin, not relevant to our alcoholic habits, which for the Bitcoin winter, we've needed a lot of alcohol to get through it.
But I want to get to all the great charts that you have for us today. We always love looking at all the great data that you bring and all the stuff, and maybe we can even lead with what I put in the intro, man, which is that you feel like we may be looking at a double bottom. But I also don't want to steal your thunder because I know you've always got such a great build up to the real nugget of what you're trying to say.

**Matt Crosby** (2:46)
Yeah. As per usual, I was prepping for this call and just thinking, what can I ramble about for the absolute most amount of time? So I've got a plethora of charts we can run through. But I just thought I'd open up with a little bit more casual look.
Every time we look at a Bitcoin chart recently, it's not looking amazing and we just continue to, I think, underwhelm a lot of investors and traders, which I know is difficult during a bear market, seeing SpaceX, AI stocks, whatever chip manufacturer, storage stock, whatever it may be, absolutely skyrocketing and we're still down here in the low $60,000 region.
But I do think there are some reasons to be optimistic, because during this capitulation, there are times to be optimistic. This is a chart that's been going around a fair amount on Twitter and YouTube and I just think it's too good to not show once again. This is the supply in loss for Bitcoin holders. What we can see in percentile terms, once we see the 50 percent boundary of supply and loss cross the 50 percent threshold, a majority of investors are actively losing money, which in this most recent dip back down to $60,000, we crossed.
Historically, this has always been the bottom marking territory. In every single bear market, pretty much the exact low is when we actually surpassed this 50 percent threshold. We've just done it once again. This really is true capitulation. This is a majority of holders experiencing losses on their positions. The famous saying goes by when there's blood in the streets. I know it's difficult. I know it feels awful. I know everyone's calling for $50,000, $40,000, even lower, saying, we need to wait until October. We need to wait until XYZ happens. But realistically, I think there's a lot of value down here. I know we opened with, is this the double bottom? Have we seen the lowest for this cycle? Realistically, nobody knows. I've not polished my crystal ball too recently, but the one thing I've been trying to reiterate is, there's a lot of value down here. I think the biggest risk is not acknowledging the fact that we are seeing a lot of value for money down here. I personally look at buy on get on free Satoshis. When we see dates like this, when we see other on-chain metrics, traditional finance pointing towards some potential more expansion in those markets.