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GM to all of you nutcases. It’s Crypto Nutshell #577 pushin’ limits… 🏋️🥜

We're the crypto newsletter that's more intense than a secret agent fighting his way through a web of deception and double-crosses... 🕶️🔫

What we’ve cooked up for you today…

• 🙅 South Korea says no

• 🔮 A Bitcoin prophecy

• 🔄 Trend shift

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

SOUTH KOREA SAYS NO 🙅

BREAKING: South Korea's central bank rules out Bitcoin reserve possibility

Since Trump’s executive order on a Strategic Bitcoin Reserve, global interest in the idea has surged. (Czech Republic, Brazil, and Poland are leading the pack)

But today, the Bank of Korea (BOK) officially ruled out adding Bitcoin to its foreign exchange holdings. 😥

So, why has the BOK dismissed the idea so quickly?

According to a March 16 report, the central bank cited 2 key reasons for rejecting a Bitcoin reserve:

1. Extreme volatility – The BOK argued that Bitcoin’s price swings could lead to “drastic” transaction costs when cashing out BTC.

2. IMF guidelines – The International Monetary Fund (IMF) requires foreign reserves to be highly liquid and investment-grade, which, in the BOK’s view, Bitcoin does not meet. 🤔

South Korea now joins Japan, Switzerland, and the European Central Bank - all of which remain skeptical about holding Bitcoin as a reserve asset.

That said, South Korea is far from anti-crypto.

The country has been gradually easing restrictions, including a move to lift its ban on institutional crypto trading.

Meanwhile…

A new survey from Data for Progress reveals that a majority of Americans are against Trump’s strategic crypto reserve plan:

• 51% of voters oppose the idea, while only 34% support it

• Of 9 major funding priorities, cryptocurrency ranked dead last, with only 10% of voters supporting increased federal funding.

• Older voters (45+) overwhelmingly oppose crypto spending. While younger voters show slightly more support (18%).

Here’s the thing though…

The survey’s question states the crypto strategic reserve would "use government spending."

But from Trump’s executive order we know that’s not the case.

According to the EO, the Secretaries of Treasury and Commerce would explore:

(It’s also worth pointing out that Cryptocurrency had the highest percentage of “Don’t know” answers)

Would the results have changed if respondents knew the reserve would be budget-neutral? 🤔

What Top Execs Read Before the Market Opens

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Join 1M+ professionals who stay informed before the rest of the market catches up.

A BITCOIN PROPHECY 🔮

Exactly 129 days ago, a Bitcoin prophecy was made.

The crazy part? It’s playing out exactly as expected.

The best part? If it stays on track, Bitcoin is headed to $444K.

The Bitcoin prophecy came from a trader named Josh Mandell.

Who is Josh Mandell?

Josh isn’t just another trader.

He’s a Wall Street legend:

• Former Salomon Brothers trader (1990-98)

• Most recently, a Trader at Caxton Associates, a $12 billion dollar hedge fund with HQs in New York, Singapore, Monaco, and Dubai.

This guy has seen it all.

Josh has been trading Bitcoin & MSTR publicly for a year:

• He started with $2.1M.

• As of March 7, 2025, it has ballooned to over $22M. 🤯

His track record speaks for itself.

Now, here’s the cryptic Bitcoin prophecy Josh made in November last year:

At first glance, it’s a pretty confusing tweet.

But when you unpack it, here’s the key dates he predicts:

• 7th November, 2024 — Bitcoin at $74K, just beginning to break out.

• 16th January, 2025 — Bitcoin hits $103K, marking a local top.

• 14th March, 2025 (this week) — Bitcoin holds $84K as a base for what Josh calls “The Fourth Turning.”

So far? Spot on.

But what comes next?

Josh’s prophecy states:

Translation?

• $84K becomes the base.

• The next move is towards $444K (three fours, times $1,000).

Yes, you read that right. A $444,000 Bitcoin.

Is it guaranteed? Of course not.

Is it a wild forecast from a Wall Street veteran who just 10x’d his portfolio?

Absolutely.

Has he been correct so far?

Yep.

So far, the market has followed his script to the letter.

If $84K is the base, then the real fireworks may just be getting started.

Some much needed hopium to start your week. 😉

TREND SHIFT 🔄

Time for a check-in on the Long/Short-Term Holder Threshold.

Here’s how this metric works:

• 🔴 Short-Term Holders (STHs): Coins held for less than 155 days

• 🔵 Long-Term Holders (LTHs): Coins held for more than 155 days

• 🟥 Short-Term Holder Cost Basis: All coins purchased in this price range are STHs

• 🟦 Long-Term Holder Cost Basis: All coins purchased in this price range are LTHs

This metric is extremely powerful as we can see exactly what price STHs and LTHs purchased Bitcoin at. 🔎

The LTH / STH threshold is currently at 13th October 2024, when Bitcoin was trading ~$62,800.

• All coins purchased before this date are classified as LTHs.

• All coins purchased after this date are classified as STHs.

Today, there are currently 13,292,826 Bitcoin in the hands of LTHs.  (67.00% of the circulating supply) 💪

Whereas the amount of coins held by STHs is only 3,869,499. (19.51% of the circulating supply)

Over the last month, there’s been a clear trend shift:

~178,840 Bitcoin has moved into the hands of long-term holders.

Historically, a rising LTH supply has preceded Bitcoin’s largest moves upward.

Long-term conviction appears rock solid. (As it should with the long-term bullish fundamentals in place)

We’ll check back in on this metric in 2 weeks’ time to see how this trend evolves.

CRACKING CRYPTO 🥜

France central bank governor says Trump is “sowing the seeds of future upheavals” by supporting crypto. Francois Villeroy de Galhau believes that the U.S. is inviting a financial crisis by embracing cryptocurrencies.

Bitcoin whale bets $368M with 40x leverage on BTC decline ahead of FOMC. The crypto whale is up over $2 million on his short position, which faces liquidation if Bitcoin recovers above $85,592.

Gold ETFs Inflow Takes Over Bitcoin ETFs Amid Historic Rally. Rising gold prices and strong bitcoin ETF outflows have pushed gold ETFs ahead as the precious metal prices hit record.

Solana marks 5 year anniversary as network activity dips, Firedancer launch inches closer. Solana, the crypto industry’s sixth-most valuable blockchain by market capitalization, marked its 5 year annniversary on Sunday.

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) - Daily 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? ✍️

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MEME CORNER 😂

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

Trivia Answer: Protocol 🥳

The bitcoin protocol is the set of rules that govern the functioning of bitcoin.

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