The Milk Road Show

Bitcoin Has All the Good News… So Why Isn’t It Going Up? w/ Scott Melker

Dec 16, 2025
Guest
Scott Melker
Scott Melker, a seasoned crypto trader and commentator, dives into why Bitcoin's strong headlines aren't translating to price gains. He explores the frustrating market dynamics driven by macro uncertainty and institutional influences. Melker highlights that despite significant news, investor sentiment is stagnant, and higher price expectations could change the narrative. He also shares his portfolio strategies, thoughts on altcoins, and the importance of revisiting investment convictions as market conditions evolve.
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INSIGHT

Macro Rules Bitcoin Now

  • Bitcoin now moves with macro and institutional flows, not just crypto-native catalysts.
  • Scott Melker says traders must act like macroeconomists to predict Bitcoin's direction.
INSIGHT

Institutionalization Changed Market DNA

  • Institutional involvement changed Bitcoin's incentives and participant makeup after political catalysts.
  • Early libertarian whales are exiting because the market now behaves like traditional finance.
ANECDOTE

Early Whales Walked Away

  • Scott recounts early whales selling because the market no longer matched their original values.
  • He frames this as a cultural shift as Bitcoin integrates with institutions.
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