Why Bitcoin, Ethereum, and Near Could Be Setting Up for a Massive Rally

John Gillen (0:00)

I think that the intersection of digital assets, tokenization, artificial intelligence, agentic finance, all of these things come together to form one of the strongest bullish outlooks on any markets that has ever existed, right? So there's a huge, huge opportunity here.

SPEAKER_2 (0:12)

What's up, everybody? It's LGG Sed here, and welcome to the Milk Road Show, the daily crypto show that celebrated Thanksgiving a little too early because this is just how we do it up here. Today is October 13th, 2026 I am back to host the show, and we got John in the studio to talk through what is going on with Bitcoin price action, which alts he likes, what's going on with the macro? Are midterms going to go the way everybody expects, or does he have a bit of a different theory on that one? And then at the end of the show, unexpectedly, I actually asked him about crypto security. Is quantum a threat? Is AI a threat after Justin Drake wrote another little Twitter post about our cryptographic addresses and the risks that may come with that. So John is going to give us his take on that at the very end of the show. And if you want to see John's portfolio, we're going to discuss that in Milk Road PRO After Hours, which we record right after these episodes every single time we do them. And that's only for PRO members, which you can join for just a dollar at the link below. And of course, see everything that he's holding, including his very juicy alts and his very big positions. And a reminder that our podcast today is free and that it wouldn't be possible without our partners at Nexo. The digital asset platform lets you trade, earn and borrow all in one place. Keep an eye out for more information about them later in the show.

John, happy Canadian Thanksgiving. Happy Thanksgiving in advance. It's not for another six weeks for you.

John Gillen (1:27)

Welcome back, LG. I hope you are full of turkey and ready for a great podcast.

SPEAKER_2 (1:32)

We don't eat turkey Canadian Thanksgiving.

John Gillen (1:34)

Okay. Well, what else is different about you guys?

SPEAKER_2 (1:36)

We eat polar bear.

John Gillen (1:40)

You know, not all Americans.

SPEAKER_2 (1:41)

We finally caught one. We caught one. The whole village got to eat because we got our polar bear this year. Sometimes we don't. We just starved for a whole weekend.

John Gillen (1:50)

Let's move on before Peter is angry.

SPEAKER_2 (1:52)

Speaking of bears, John, excuse me.

John Gillen (1:57)

You're making fun of the polar bear.

SPEAKER_2 (1:59)

So hold on. We got this part where I'm dying.

John Gillen (2:02)

No, we're going to leave this and this is great. This is quality TV.

SPEAKER_2 (2:04)

This is what this is. This is why people. Yeah, this is this is what all those views on YouTube are.

John, speaking of bears, I think a lot of people, like I said in the intro, we're kind of victory lapping a little bit this past weekend with a few pretty big dips coming into almost, I guess, kind of the middle of the range that we've been in for a little while. But I don't feel like you're I feel like you're the last person who's panicking about that.

John Gillen (2:24)

I'm not panicking. I think that what we've seen over the last couple of weeks here on Bitcoin is Bitcoin just resuming ranging, which is like ranging price action. If you look back over the last couple of years of Bitcoin's history, there have been several periods where Bitcoin has more or less gone sideways in a tight range for a period of six months or more than that. Sometimes it gets kind of frustrating at times, but that's kind of what we're seeing right now. I think that it's difficult, especially somebody who makes content, to get all excited about this nearly $2 trillion asset that's just chopping in a pretty tight price range. But that really is the exciting opportunity right now, is accumulating on the dips and the fact that we are holding these levels and finding the support means the bulls are in control. I'll go back to what I started saying, which is in the last week or so, Bitcoin has come down and tested 81k as support twice now.

So the bears have flexed on the bulls and put them to the test here on this price action we've seen. And the bulls both times have very quickly stepped in to buy the dip and have reclaimed the key point that I've been watching personally is $83,000. The reason that's such a key level for me is that that is the high that Bitcoin set back in May of this year. And so getting back above that price level and holding it seems to imply acceptance of new higher high on Bitcoin, which is a confirmation of this bullish breakout that we've seen and a confirmation that the bearish market structure has been broken. So holding on to this level is really important. And so we got a flash crash last night, which I attribute mostly to a bunch of people getting liquidated on Sandisk and the KOSPI, the Korean stock market exchange, having their circuit breakers thrown and stop trading because of the sharp cascading liquidations on longs there. And so because a lot of people use cross margin, they get liquidated on their Sandisk position. They are forced to sell whatever else is in their account. If that happens to be crypto, they sell the crypto, you get some forced selling pressure. But again, the takeaway is that the bulls stepped in very quickly to buy that.