Ansem: Micron’s earnings report could push its stock price to new highs again, marking the peak of the “storage sector rally” in the coming months.

Crypto KOL Ansem posted, stating he believes Micron (MU)’s earnings report may beat expectations, driving its stock to a new high, which could mark the peak of the “storage rally” in the coming months. The Magnificent Seven tech giants have weakened sharply recently, pulling back from their highs, while the storage and semiconductor sectors had been propping up the market up to now. Ansem noted his earlier incorrect bullish call on SpaceX ahead of its first major share unlock, which he views as another sign of retail investor fatigue in the market. If SpaceX continues to trade below its $150 opening price, he will cut his related positions. On the macro front, Ansem said interest rate and inflation concerns are real, but he views Fed official Kevin Warsh’s cancellation of forward guidance as a move to let the Federal Reserve respond based on market activity rather than pre-emptively calming markets. If inflation shocks from the Strait of Hormuz prove temporary and the market weakens concurrently, the Fed may pivot, creating a window for market cooling from now until the next Fed meeting at the end of July. On crypto, Ansem noted the crypto market has underperformed over the past two years but is currently in a favorable position. If open-source AI and decentralized inference become popular narratives, Solana could be one of the best trades over the next 12 months. For Bitcoin, Ansem said concerns related to MicroStrategy (MSTR) are legitimate, and a paired trade of going long BTC and shorting MSTR looks attractive. Bitcoin is currently at a critical juncture, near its 2021 all-time high and 200-week moving average. If it holds above $60,000 and MSTR breaks below its support level, that would be a strong signal of a long-term bottom formation. Overall, Ansem believes the market may rise first today, then sell off in early Q3, and investors may have opportunities to buy BTC near $60,000 and SOL near $60, which he views as bear market lows.