GM to all 33,830 of you. Crypto Nutshell #195 settin’ sail.  🏴‍☠️ 🥜 

We’re the crypto newsletter more empowering than being chosen by a sword in a stone to rule a kingdom... 🗡️👑

What we’ve cooked up for you today…

• 🤔 Why did Bitcoin just crash?

• ⚖️ 3 tips for a crypto crash

• 🏦 The institutions are coming

• 💰 And more…

MARKET WATCH ⚖️

Only the top 20 coins measured by market cap feature in this section

WHY DID BITCOIN JUST CRASH? 🤔

BREAKING: Bitcoin falls 8% on anti-ETF news, analysts remain confident

After an incredible start to 2024, Bitcoin suddenly took a nosedive. Why?

Two potential reasons:

1. Jim Cramer turned bullish on Bitcoin (we warned you…)

2. Matrixport reported that the SEC might reject ETF applications

Here’s what the Matrixport article had to say:

Upon this news breaking, Bitcoin’s price plummeted by more than 8%. 📉

However the report out from Matrixport, quickly came under scrutiny.

Notably, ETF analyst, Eric Balchunas questioned the legitimacy of the report.

He reaffirmed that all of his sources were still indicating an imminent approval.

Something fishy is going on here…

Click here to read the Matrixport article (FUD?)

TOGETHER WITH THE PHENOM WEEKLY♟️

One reason we love crypto? The returns. 😍

In a bull market? No other asset can compete. It’s not uncommon to see 5x, 10x or even 100x plus returns.

With the Bitcoin Halving coming up, the next crypto bull-run is just around the corner.

That’s why we read The Phenom Update.

They share the best kept secrets on the latest DeFi & small-cap crypto trends. 🤫

The best part?

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Slam that big subscribe button and it’ll automatically add you to their list.

If you’re not a fan, you can always unsub. Nothin’ to lose. 🎉

3 TIPS FOR A CRYPTO CRASH ⚖️

Today, Bitcoin fell from over $45,000 to at one point, $40,800.

What should you do when there’s such a drastic fall in price?

Macroeconomic expert, Raoul Pal, had some advice.

Tip 1: Don’t use leverage

In the last 24 hours, we saw $600 million worth of leverage get wiped out.

For 99.99% of people, you should not be using leverage. Borrowing money to amplify your gains is a great way to go broke.

What do Raoul Pal, Michael Saylor, Warren Buffet and Charlie Munger all agree on?

Not much. But they do agree on this:

Don’t use leverage.

Tip 2: Pain is opportunity

To become a better investor, Raoul believes you have to learn how to take pain.

The best time to be buying is when it’s painful to do so.

Tip 3: Have a long term time horizon

During a sharp correction, Raoul points out it’s crucial to have a long term time horizon.

Has anything fundamentally changed about your investment?

If not - everything is noise.

Bottom Line:

We don’t think there’s any substance to the report from Matrixport.

In our view, the Bitcoin ETFs are an inevitability.

Nothing has fundamentally changed. Today was a rare opportunity. 🍀

THE INSTITUTIONS ARE COMING 🏦

Time for a look at the weekly crypto asset flows.

Last week, digital asset investment products saw new inflows of $243 million.

This brings the 2023 total inflows to $2.2 billion, the third largest year since 2017.

If you’re new around here, or not quite sure what we mean by digital asset investment products, checkout this short article.

2023 inflows were 2.7x the inflows seen in 2022. Marking a significant change in investor sentiment.

However, the majority of these inflows came in the final quarter as hype increased surrounding the potential Bitcoin ETFs.

Let’s break these flows down by asset.

No surprise here, Bitcoin completely dominated the yearly flows with $1.9 billion in total.

That’s over 87% of the total flows. 😲

Interestingly, Solana experience a larger amount of net inflows ($167m) compared to Ethereum ($78m).

The US saw the largest inflows of $792 million, followed by Germany ($663m) and Canada ($543m).

Comparing 2023’s inflows to 2022’s, one things clear.

Institutional interest in the digital asset space is back. 💰

This is largely due to the upcoming Bitcoin ETFs. 

Just imagine how large these inflows are going to be once they actually launch…

Less than a week to go. 😎

CRACKING CRYPTO 🥜

Bitcoin's price risk slumping to $36k if SEC denies ETF applications, Matrixport warns. SEC's stance on compliance may sink Bitcoin exchange-traded fund (ETF) hopes, warns digital asset management firm Matrixport.

Peter Schiff says spot Bitcoin ETF could crash BTC price. Schiff has long been a Bitcoin skeptic and has predicted its doom for years, only to be proven wrong each cycle.

Goldman Sachs in talks to manage more bitcoin ETF shares. As a potential authorized participant, Goldman Sachs would be responsible for the creation and redemption of ETF shares.

Three Possible Scenarios for Bitcoin ETFs in 2024. Will they or won’t they? The SEC is on the clock and crypto markets eagerly await its decision on a Bitcoin ETF. Here’s what could happen.

WHAT WE’RE READING ✍️

Want to get even smarter? Check these out.

p.s. all completely FREE

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: C) 21 million 🥳

There is a limited supply of bitcoins that can ever exist, with a total cap of 21 million

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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.