Ethereum Is Either Failing… Or Evolving Into Something Much Bigger w/ John Gillen

Watch on YouTube ↗  |  May 26, 2026 at 18:45  |  44:13  |  Milk Road Macro
Speakers
John Gillen — Co-Host, Milk Road Macro

Summary

John Gillen discusses the macro backdrop of the Iran conflict and Fed rate hike risks, then dives into Ethereum's identity crisis. He argues that Ethereum's current turmoil is a healthy re-founding and that the fundamentals are stronger than ever, making ETH a long-term buy. He also highlights Bitcoin below $70K as a key accumulation zone.

  • Iran conflict appears to be de-escalating but uncertainty remains over the Strait of Hormuz and nuclear deal.
  • Fed Governor Waller signaled possible rate hikes due to structural inflation, which could dampen risk assets.
  • Ethereum is facing intense criticism, with Bankless selling ETH and Vitalik clarifying the EF's leaner role.
  • John Gillen is bullish on Ethereum long-term, citing all-time high usage, low fees, rising staking queue, and major accumulators like Tom Lee.
  • He advises accumulating Bitcoin below $70K, viewing it as a return to previous cycle highs.
  • Altcoins could present buying opportunities on Bitcoin weakness, but no specific names are given.
  • A clear Iran peace deal would be a strong tailwind for Bitcoin and other risk assets.
  • The show promotes Milk Road Pro for tracking analyst portfolios and watch lists.
Trade Ideas
John Gillen Co-Host, Milk Road Macro 18:26
Accumulate Bitcoin below 70K
Bitcoin below $70K is a great accumulation opportunity because it is back at its previous all-time high from 2021 and will participate in the ongoing bull run and agentic economy. The longer-term thesis for Bitcoin remains intact, and any dip below 70K is a buying opportunity.
BTC HIGH
John Gillen Co-Host, Milk Road Macro 31:04
Ethereum is bullish long-term
Ethereum is very bullish long-term despite the current price struggles and negative sentiment. The network is at all-time high usage with low fees, the staking queue is rising, and major holders like Tom Lee are accumulating. These fundamentals will ultimately drive the price higher.
ETH HIGH
Up Next
4:06
Knicks championship win would be the perfect chance to sell the team: Ariel's Charles Bobrinskoy
CNBC · May 26
3:15
Inside the “Porterhouse” Portfolio Launch Party
The Compound News · May 26
11:43
Lockheed Moving Rapidly to Resupply US Missile Stockpile
Bloomberg Markets · May 26
33:20
Bitcoin ETFs Bleed $1B as Capital Rotates Into HYPE, SOL, XRP
CoinDesk · May 26
1:48
Tesla, SpaceX consider merger
CNBC · May 26

This Milk Road Macro video, published May 26, 2026, features John Gillen discussing BTC, ETH. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: John Gillen  · Tickers: BTC, ETH