Today’s edition is brought to you by Crypto.com

Start earning up to 5% back on all your spending! No annual fees. Sign up for the Crypto.com Visa Card today to receive your instant $25 bonus!

GM to all you crypto nuts. Crypto Nutshell #489 droppin’ in… 🪂🥜

We're the crypto newsletter that's more intense than battling giant monsters with towering robots... 🤖🦑

What we’ve cooked up for you today…

• 🏦 So close…

• 🗡️ $1 million will be violent

• 📈 They finally did it

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

SO CLOSE… 🏦

BREAKING: Bitcoin Surges to New Record Over $93K as Strong U.S. Demand Crushes Resistance Level

Bitcoin’s insane run continues…

This time Bitcoin blasted through the $90,000 resistance level, setting a new all-time high of $93,233.

$100,000 is so close you can almost feel it… 🤏

What caused the sudden jump up this time?

Well, US inflation numbers came out…

And they were in line with estimates. (This is a good thing)

Consumer Price Index (CPI):

• Monthly: Increased by 0.2%, consistent with the previous three months and in line with forecasts

• Year-over-Year: Rose 2.6% in October, in line with forecasts

Core CPI (excludes volatile food and energy costs):

• Monthly: Increased by 0.3%, in line with forecasts

• Year-over-Year: Remained steady at 3.3% as expected

The reason that this data is good is because it shows that inflation has remained steady despite the Fed cutting interest rates.

Which increases the chances that we’ll see more rate cuts in the future.

And that’s exactly what the markets are now predicting.

According to CME FedWatch, the odds of a 0.25% rate cut in December are now 82.4%.

(The odds were ~60% before the CPI data was released)

But the US isn’t the only country that’s going through a rate cut cycle…

Essentially all other western central banks have lowered interest rates. (or shown intent to soon)

Lower rates combined with a crypto-friendly president elect has provided rocket fuel to the crypto market.

This is still just the beginning…

START MAKING EVERY TRANSACTION COUNT 💳

If you haven’t got a crypto card yet, you’re living in the past.

With a Crypto.com Visa Card you can spend your crypto anywhere you want.

The benefits are insane.

Not only is there NO monthly or annual fee, you also get up to 5% back on every transaction.

With your Crypto.com Visa Card you can:

• Enjoy 100% cashback on Spotify, Netflix, and Amazon as a new customer. 🍿

• Get complimentary access to airport lounges and elevate your travel experience. ✈️

• Flaunt your style with the sleek and stylish metal card 🌟

Here’s how to get your $25 bonus and start earning up to 5% back:

1. Click here to Download the Crypto.com App

2. Sign Up: Use our referral code - Nutty - for your instant $25 bonus.

3. Get Your Crypto.com Visa Card: Start making transactions, earning rewards, and enjoying the perks!

Start making every transaction count - the future is here.*

$1 MILLION WILL BE VIOLENT 🗡️

The move to a $1 million dollar Bitcoin won’t be slow & gradual.

It will be be fast & violent.

That’s the latest out from Samson Mow.

Samson Mow is the CEO of JAN3, a Bitcoin company aiming to accelerate hyperbitcoinization.

In his latest interview, Mow broke down why the move up to a $1 million Bitcoin will be faster & more violent than anyone expects.

It all comes down to the long history of fiat currencies:

Throughout history, fiat currencies have a failure rate of 100%.

When their value collapses, it doesn’t happen gradually - it happens quickly.

A $1 million Bitcoin sounds absurd, given we’re at ~$90,000.

But one look at the U.S National Debt chart, and all of a sudden, it’s not so absurd:

Finally, yesterday we asked you all if Bitcoin will break $100,000 before the end of 2024.

Of the ~600 of you who made a prediction, over 91% believe we’ll see a 6-figure Bitcoin before the year is out. 👏

So far Crypto Nutshell Readers have been incredibly accurate with their calls… 👀

THEY FINALLY DID IT 📈

Everyone (us included) has been talking about Bitcoin and it’s crazy run up recently.

However, the Ethereum ETFs recently crossed an important milestone. (And it’s gone a little under the radar)

The Ethereum ETFs now have net positive inflows since launch!

They finally overcame the $3.2 billion in outflows from Grayscale. (It only took four months…)

The Ethereum ETFs are now net positive by $240.1 million.

Here’s the breakdown for yesterday’s flows:

1. Fidelity FETH: $101.7 million 🥇

2. BlackRock ETHA: $35.6 million 🥈

3. Bitwise ETHW: $13.0 million 🥉

That’s six straight days of inflows for the Ethereum ETFs, totalling $796.2 million.

The last three days are also the three largest inflow days since launch.

The Ethereum ETFs are finally coming to life…

And while we’re on the topic of ETFs…

ETF analyst Eric Balchunas posted one of the most ridiculous charts to X yesterday.

BlackRock’s Bitcoin ETF (IBIT) recently crossed over $40 billion in assets under management.

And they did it in a record 211 days.

Absolutely demolishing the previous record of 1,253 days.

IBIT is now in the top 1% of ALL ETFs by assets.

It’s now larger than all 2,800 other ETFs that have launched in the past 10 years. (IBIT has only been trading for 10 months)

That is absurd.

IBIT has without a doubt been a smashing success no matter which way you look at it.

Isn’t it nuts that a Bitcoin ETF is the one breaking all of these records?

CRACKING CRYPTO 🥜

Donald Trump taps Elon Musk, Vivek Ramaswamy for new Department of Government Efficiency (DOGE) initiative. Public engagement key in Elon Musk and Vivek Ramaswamy’s mission to reveal and reduce government excess for DOGE.

Senior Federal Reserve Official Who Blasted Bitcoin Now Says He'll Have an Open Mind. Minneapolis Federal Reserve President Neel Kashkari, who previously called the cryptocurrency industry "worthless" still isn't an uber-bull, though.

Bitcoin strategic reserve unlikely under Trump — Mike Novogratz. The Galaxy Digital CEO argued that he does not expect the nearly $36 trillion national debt to be paid without devaluing the currency.

Dogwifhat soars after Coinbase announces plans to list the memecoin. Coinbase updated its asset listing roadmap to include WIF, which jumped about 21% around the time of Coinbase’s announcement.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

p.s. all completely FREE (one click subscribe link)

• Raremints (link) - Daily crypto news

• Bitcoin Breakdown (link) - Twice weekly Bitcoin news

• Crypto Pragmatist (link) - Actionable alpha 3x a week

• The Hustle (link) - Get Smarter on Business and Tech

• Your Next Breakthrough (link) - Personal growth with Mark Manson

• The Neuron (link) - AI trends and tools to keep you ahead

CAN YOU CRACK THIS NUT? ✍️

Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: B) The process of confirming transactions and adding them to the blockchain 🥳

Bitcoin mining is the process of validating and adding new transactions to the blockchain by solving complex mathematical problems, with miners earning rewards in Bitcoin for their work.

GET IN FRONT OF 64,000+ CRYPTO INVESTORS

Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.

Get in touch today.😎

HOW DID WE DO? 🤷

We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)

NUTCASE REVIEW OF THE DAY 🔍

DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.