Today’s edition is brought to you by Incogni.

Help protect yourself today by grabbing the annual plan at 50% off!

GM to all 64,612 of you. Crypto Nutshell #328 ploddin’ in... 🦣 🥜

We’re the crypto newsletter that’s more magical than a young girl’s journey down a rabbit hole into a whimsical and chaotic world... 🐇🎩

What we’ve cooked up for you today…

• 🤑 Big win for crypto

• 🌎 When to sell

• 💪 Long-term holders

• 💰 And more…

MARKET WATCH ⚖️

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

BIG WIN FOR CRYPTO 🤑

BREAKING: U.S. Senate Votes to Kill SEC's Crypto Accounting Policy, Testing Biden's Veto Threat

The US Senate just voted in favour of repealing the SEC’s controversial SAB 121 crypto policy.

The Senate voted 60-38 to overturn the policy.

But what exactly is SAB 121? 🤷‍♀️

Here’s the rundown:

The SEC Staff Accounting Bulletin (SAB 121), was first published in 2022 and has drawn controversy over the past year over concerns in the crypto industry that it could prevent banks from safeguarding digital assets. It requires firms that custody crypto to record customer crypto holdings as liabilities on their balance sheets.

One of the reasons SAB 121 is so controversial is because it doesn’t apply to traditional assets like stocks.

Senator Cynthia Lumis, who pushed for the resolution in the Senate, had this to say:

Senator Lumis even updated her Twitter profile picture to include the popular crypto meme “laser eyes”.

A clear indication of her support for the crypto industry.

Rep. Mike Flood, another politician who pushed for the resolution, called this decision a “landmark result”:

But it’s not over yet…

Before this decision was made, President Joe Biden vowed to veto the resolution if the Senate voted in favour.

It’ll be interesting to see what Biden actually does…

Regardless though, today is a victory for the crypto industry. 🥳

TOGETHER WITH INCOGNI 🕵️

Odds are, you've received a suspicious phone call, text, or email asking for money in a roundabout way.

If you have a trained eye, you may be able to spot the scammer, but their tricks are becoming more and more sophisticated.

Every day, data brokers profit from selling your sensitive info.

Think: SSN, DOB, home addresses, health information and contact details

That's where Incogni comes in. 

Incogni scrubs your personal data from the web, confronting the world’s data brokers on your behalf.

With Incogni, you’ll worry way less about:

• Identity theft

• Health insurers raising your rates based on info from data brokers

• Robo and spam calls

• Scammers taking out loans in your name

Exclusive discount for CryptoNutshell readers: Use code "cryptonutshell" at checkout to get 55% off the annual plan.

WHEN ON EARTH SHOULD I SELL? 🌎

It’s the most asked question in all of crypto…

When should I sell?

That’s what macro-economic expert Raoul Pal answered in his latest update to investors.

If you’ve been in crypto for long enough, you’ll know that crypto is extremely cyclical.

There’s a 4 year cycle, based around the Bitcoin halving.

This 4 year cycle is broken into 4 seasons:

• 🟩 Crypto Spring

• 🟨 Crypto Summer

• 🟥 Crypto Fall

• 🟦 Crypto Winter

In 3 out of 4 of these seasons, crypto is the best performing asset on earth.

Then in crypto winter, it’s the worst.

On paper, the optimal selling strategy appears obvious:

Exit all of your crypto positions before crypto winter.

Simple, right?

According to Raoul - not quite.

There’s just one problem.

It’s impossible to know when crypto will peak.

Even if you do miraculously nail the top, there’s a problem:

Instead of trying to time the market, here’s Raoul’s personal plan:

Raoul’s predicts that following the US election in November, we’re going to see a huge pump.

The plan?

Take 1/3rd off the table.

Now not only have you taken the pressure off, if there’s a harsh correction, (there always is) you have some dry powder. 💣

Although not for everyone, we think it’s a pretty good plan. 

LONG-TERM HOLDERS 💪

It’s time to check in on the supply of Bitcoin last active 1+ years ago.

We love this chart. It’s so simple to understand and it’s extremely useful.

It categorises coins based on how long it’s been since they last moved on-chain. (as a percentage of the circulating supply)

• Metrics rising: long-term holders are accumulating coins 📈

• Metrics declining: long-term holders are selling coins 📉

Taking a look at the chart below you’ll notice significant dips in these metrics when Bitcoin reaches new all-time highs. (especially with the 1+ year age band)

Here’s the breakdown for each cohort (compared to what it was 2 weeks ago):

• 🔴 Supply last active 1+ years ago: 65.80% (up from 65.68%)

• 🟠 Supply last active 2+ years ago: 54.81% (up from 54.65%)

• 🟢 Supply last active 3+ years ago: 46.33% (up from 45.69%)

• 🔵 Supply last active 5+ years ago: 31.19% (down from 31.22%)

Over the last two weeks, the 1+, 2+ and 3+ age bands experienced a slight increase.

BUT, the 5+ age band slightly decreased…

As we mentioned two weeks ago, the sell-offs from long-term holders has slowed down.

Now long-term holders are once again waiting on the price to increase further before taking anymore profits.

BUT, there was a small amount of selling from the 5+ year age band. (nothing too significant though)

All in all, long-term holders still have an extremely high conviction in the future of Bitcoin. 💪

CRACKING CRYPTO 🥜

Vanguard's new CEO upholds firm's stance against Bitcoin ETFs despite crypto enthusiasm. Vanguard newly appointed CEO Salim Ramji remains aligned with firm's cautious approach to Bitcoin exchange-traded funds (ETF).

Binance develops ‘antidote’ to address poisoning scams after $68M exploit. Binance’s new algorithm has already helped detect over 13.4 million spoofed blockchain addresses on BNB and over 1.68 million on Ethereum.

Coinbase Shares Sink 9% on Report CME to Consider Listing Spot Bitcoin. The stock was the second worst performing among crypto stocks on Thursday.

Bitcoin Has Best Day in 2 Months as Markets Anticipate a ‘Summer of Easing'. The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

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

• Bitcoin Breakdown (link) - Weekly Bitcoin recap

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

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

• Wild Golf (link) - Twice weekly Golf insights & tips

• 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: A) The process of confirming transactions and adding them to the blockchain 🥳 

For more on Bitcoin mining, checkout this article.

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.