Miles Detscher – Bullish Crypto Signal Flashes For First Time EVER! (05.06.2024 Summary)

Miles Detscher – Bullish Crypto Signal Flashes For First Time EVER! (05.06.2024 Summary)

According to Miles, a massive bullish signal just flashed in the crypto markets for the first time ever! Miles woke up to Bitcoin pumping hard, surging from $68,500 all the way up to over $71,000.

🥇 So what was this groundbreaking signal that has Miles so excited? Record-breaking daily inflows into the Bitcoin spot ETF – nearly $1 billion worth! As Miles explains, “This is the highest inflows we’ve seen since the launch of the ETF, which is a sign that there is strong institutional demand for Bitcoin.”

🧩 Miles believes this tidal wave of institutional money could kick off a “reflexivity cycle” where high inflows lead to rising price expectations, which then attracts even more inflows. He points to Bitcoin’s previous all-time high in March as evidence, noting the current setup looks very similar.

🧠 But Bitcoin may not be the only major beneficiary here. Miles thinks the rocket fuel from the Bitcoin ETF inflows could spill over into Ethereum as well, especially ahead of the long-awaited Ethereum spot ETF launch.

“I firmly believe that the longer it takes for the Ethereum ETF, that would be amazing for Ethereum because this narrative of the ETF coming is going to cause hype and speculation,” says Miles.

🐶 So what altcoins is the crypto guru pounding the table on? For a quick Bitcoin play, Miles highlights meme token FlokiInu (FLOKI) which has been mirroring the price action of red-hot Pepe Coin. He also names PancakeSwap (CAKE) as a way to get exposure to the booming Binance ecosystem.

🌎️ However, Miles reserves his highest conviction for the real-world asset (RWA) space which he believes could be the biggest beneficiary of Ethereum ETF mania. He calls out projects like Pendle as potential winners in this narrative.

Whether you want to try riding Miles’ hot takes or not, one thing is clear – he’s convinced we’ve entered a new bullish crypto climiate.