A month ago, I shared my thoughts on the early stages of Bitcoin’s next major bull run — and the opportunities beyond BTC itself. While the focus often remains on Bitcoin during these bullish cycles, I highlighted the broader crypto ecosystem, particularly crypto-related stocks, which have historically outperformed during similar periods.

In that post, I discussed specific setups for miners like Hut 8 Corp ($HUT), Bit Digital ($BTBT), Greenidge Generation ($GREE), and Stronghold Digital Mining ($SDIG), alongside key crypto-related names like Coinbase, Microstrategy, and Robinhood. I also emphasized the importance of watching the ratio between Valkyrie’s Bitcoin Miners ETF ($WGMI) and Bitcoin ($BTC), as its recent movements hinted at a potential reversal in mining stocks’ performance.

Now, a month later, it’s time to revisit those ideas, assess how these setups have played out, and look ahead to what’s next as this Bitcoin move continues to unfold.

As part of an educational effort, I've unlocked this previous paywalled post so anyone can access.

I've flipped my short-term bias (that looks out weeks) to bearish as the three largest tokens in the asset class test critical resistance levels. Ethereum has been the exception in the group over the last few weeks, but even now it looks set up to consolidate its gains.

If Ethereum, the one token that has helped support market breadth over the last two weeks, begins to pause, it could set the asset class up for a few weeks of indiscriminate selling. What would prove me wrong is seeing all three of these assets complete successful breakouts.

Regardless of whether sellers step in here, I think this is a good area to pay ourselves and take some profits off the table. It is prudent trading/investing to scale out of positions as the market works higher.

I think if we see any meaningful weakness here in the coming weeks, it will present itself as a great buying opportunity.

But in the interim, I think the best approach is to be patient.

Directional Bias

• Short...