Bitcoin, Ethereum Suffer from Low Ownership Levels, Analyst Warns

Bitcoin and Ethereum are considered 'really underowned' assets by Milk Road analyst John Gillen, who believes they are two of the best assets in the market. He points out that even though these cryptocurrencies have been rallying lately, market participants should refrain from 'panic-chasing.'

Gillen attributes last week's crypto rally to two unpriced catalysts: Treasury Secretary Scott Bessent's announcement of expanded bond buybacks and President Donald Trump naming Hyperliquid at the White House. This triggered over $4 billion in short liquidations, resulting in Bitcoin's largest weekly dollar gain on record.

Gillen is now watching for spot volume to continue supporting the move, with ETF inflows and spot markets holding the bid since the squeeze. He suggests that those feeling FOMO should take 5% to 10% of intended capital to get a small position, not to complete the allocation but to calm emotions.

Gillen is most bullish on Ethereum, calling it the 'most misunderstood asset in the market.' He highlights its role as the neutral settlement layer for the next generation of finance and notes that nobody owns any ETH. He expects Bitcoin above $82,000 within the next week if momentum holds.