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We're the crypto newsletter that's more intense than chasing justice in a city ruled by chaos... 🦇🃏

What we’ve cooked up for you today…

• 😱 ETF outflows

• 🔮 20 Predictions for 2025…

• 📉 Exchange balances plummeting

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

ETF OUTFLOWS 😱 

BREAKING: US spot bitcoin ETFs continue net outflows, bleeding $340 million

Things haven’t been looking great for the Bitcoin ETFs recently…

They just recorded their fourth consecutive day of net outflows, with $338.4 million leaving the funds on Tuesday.

(Quick side note: Stock markets close on Christmas day whilst Bitcoin continues trading 24/7…)

Only one fund saw an inflow yesterday and that was Bitwise with $8.5 million.

Whilst the largest outflows came from:

1. BlackRock IBIT: -$188.7 million

2. Fidelity FBTC: -$83.2 million

3. ARK Invest ARKB: -$75 million

In total, the Bitcoin ETFs have seen a combined $1.51 billion in net outflows over the last four days.

The most surprising thing here is seeing BlackRock with $261.4 million in outflows. (Outflows have been extremely rare for BlackRock)

But…

Perhaps even more surprising are the Ethereum ETF flows…

For the first time ever, the Ethereum ETFs have outperformed the Bitcoin ETFs. (Over the last two days)

On Tuesday the Ethereum ETFs saw $53.6 million in net inflows:

• BlackRock ETHA: $43.9 million 🥇 

• Bitwise ETHW: $6.2 million 🥈 

• Fidelity FETH: $3.5 million 🥉 

We’re going to close out this section with a reminder:

This is only year one of institutional adoption

The crypto ETFs are only just getting started.

And they’ve already FAR exceeded everyones expectations.

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20 PREDICTIONS FOR 2025… 🔮

Bitcoin is going much higher than most people expect in 2025.

The bull run will also last far longer than the majority predict.

These are just two of Fred Krueger’s 20 bold predictions for 2025.

Who is Fred Krueger?

Here’s a quick rundown of his credentials:

• Worked on Wall Street for close to a decade 💼

• Has a PHD in Math from Stanford 🎓

• 10+ successful exits from companies he founded (some exits in the 10’s of millions) 💰

Safe to say, not only is Fred a total G - he also knows what he’s talking about.

Last week, we interviewed Fred on his outlook on 2025 - if you missed it, check that out here.

This week, Fred dropped 20 predictions for 2025.

Here’s the 4 most interesting… 👇

1. Bitcoin Will Hit A High Of $420,000

Fred believes Bitcoin will hit $420,000 in 2025.

This is waaay higher than most investors believe it’s going.

Last week, Raoul Pal polled his crypto investor audience, asking how high they think Bitcoin will go this cycle.

The most popular answer? $150,000 to $200,000. 😳

2. We Will Close 2025 Near The High

Fred’s next prediction is that Bitcoin will close out 2025 near his predicted high of $420,000.

This would suggest a bull run lasting far longer than most anticipate.

Raoul also polled his audience on when they expect the cycle to end.

The top answer? Before June 2025.

3. There Will Be A Bitcoin Strategic Reserve

Fred’s third prediction also goes against the consensus bet.

He believes Trump will create a Bitcoin Strategic Reserve in 2025.

Right now, prediction markets only give it a 33% chance…

4. Altcoins Will Underperform

Fred’s fourth prediction is that altcoins will underperform Bitcoin in 2025.

Generally, in the 4th year of crypto cycles (which will be 2025) Bitcoin dominance falls and altcoins outperform.

Fred believes this cycle will be different.

As you can see, all of Fred’s predictions go against the consensus.

He’s betting against the crowd.

But, as billionaire investor and legendary thinker Howard Marks once said:

EXCHANGE BALANCES PLUMMETING 📉

Today we’ll be checking in on the amount of Ethereum available for sale on exchanges.

Here’s how to interpret this metric:

• Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂

• Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻

Currently there is 12,426,612 Ethereum available for sale on exchanges.

That’s ~10.36% of the entire circulating supply.

And here’s the interesting part…

As a percentage, there’s even less Ethereum on exchanges compared to Bitcoin.

As of today, 14.17% of the circulating Bitcoin supply is sitting on an exchange.

Year-to-date, Ethereum exchange balances have decreased by 1,758,782 ETH.

That’s $6.07 billion at today’s prices!

As Ethereum continues to leave exchanges, it signals that investors have a preference for long-term holding.

And with ~89.64% of the supply not sitting on an exchange…

That’s a big deal.

Put simply, there just isn’t that much Ethereum available for sale right now.

CRACKING CRYPTO 🥜

Gen Z crypto users surge following Trump victory in US elections. Bitget saw a 683% increase in Gen Z users in November, marking a shift in crypto demographics following Donald Trump’s presidential election victory.

Russia is free to use Bitcoin in foreign trade, says finance minister. Russia has all legal tools to use digital financial assets and Bitcoin in foreign trade, Finance Minister Anton Siluanov said.

Six Bitcoin Mutual Funds to Debut in Israel Next Week. The Israel Securities Authority approval was granted last week, Calcalist reported.

Crypto OTC desks say trading volumes are ‘going gangbusters right now’. They say clients have also started looking further down the risk curve at altcoins beyond bitcoin and ether.

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

• Techpresso (link) - Daily tech news and insights

• 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: D) 2014 🥳

Mt. Gox was fatally hacked in 2014

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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.