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GM. This is Milk Road. Think of us as your crypto news barista – we know your order, and yes, we add the extra shot of clarity.

Here’s what we got for you today:

FEAR & GREED HITS 90! 📊

The fear & greed (F&G) index is one of our favorite things to look at. 

It’s a good way to understand how the market is “feeling.” 

Here’s how it works: 

Well, the F&G index just did something I failed to do on any high school math test… scored a 90! 

Why this matters: This is the first time the F&G index hit 90+ since 2021. 

The last time it did? It stayed above 90 for a few months (green dots below) and BTC ended up rallying from $15K → $60K. 

We’ll see what happens this time around.

COINBASE ENTERS THE TOP 50 🏅

LOOK! Up in the sky…

Person 1: “It’s a bird!”

Person 2: “No! It’s a plane!”

Milk Man: “Nahhh, that’s just Coinbase flying through the App Store!”

That’s right. The U.S. crypto exchange has been on a roll lately…

Why this matters: It’s the first time Coinbase has been ranked in the Top 50 since February 2022. 

Retail is back, baby!

COMING SOON: MORE VOLATILITY 👀

Check it out. There’s something called the “DVOL Index.” 

Well, the DVOL has jumped from 40% → 76% over the last month. 

Buckle up. It looks like we could be in for some volatility over the next month. 

Remember, crypto is like a mechanical bull at a bar. It’s all fun and games till the bull throws the drunk girl off and she pukes.

BITE-SIZED COOKIES FOR THE ROAD 🍪

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Solana’s weekly DeFi trading volume hit $11B last week. That’s a new weekly record!

The SEC delayed its decision on BlackRock’s ETH ETF (again). The move was largely expected. Most analysts believe that a decision to either green light or postpone the launch of the ETH ETFs won’t come until May.

MicroStrategy is looking to raise $600M in financing through convertible notes. The company said it would use it “to acquire additional bitcoin and for general corporate purposes.”

Ethereum gas fees are skyrocketing. To put things in perspective, the average fee to complete an NFT transaction on Ethereum hit ~$370 at certain points yesterday.

Some Coinbase users had a “zero balance” glitch on their accounts yesterday. I guess there’s a 2-for-1 special going on because the same thing happened last week…

Deutsche Boerse (the operator of Germany’s largest stock exchange) is launching a crypto trading platform for institutional clients. It will offer a fully regulated ecosystem for trading, settlement, and custody of crypto assets.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.