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- 🥜 Bitcoin to infinity
🥜 Bitcoin to infinity
PLUS: Time for rate cuts?
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GM to all of you nutcases. It’s Crypto Nutshell #641 threadin’ the needle… 🪡🥜
We're the crypto newsletter that's more gripping than a father’s quest to rescue his son from the depths of the ocean... 🐠🌊
What we’ve cooked up for you today…
🏦 Holding steady
♾️ Bitcoin to infinity
📉 Historic lows
💰 And more…
Prices as at 3:40am ET
HOLDING STEADY 🏦
BREAKING: Bitcoin holds firm as US inflation cools and Trump touts China trade deal
Still holding steady…
But the big story?
Inflation just blinked.
May’s CPI came in softer than expected across the board:
Headline CPI: +0.1% MoM (vs. 0.2% forecast)
Core CPI: +0.1% MoM (vs. 0.3% forecast)
That matches the smallest monthly increase since October 2024 and the lowest since October 2023.
Stocks flipped green. Yields dropped. Bitcoin ticked higher (briefly…).
And behind it all?
Rate cut odds just got supercharged.
Fed futures now price in two cuts by year-end, with a 74% chance the first arrives in September.
Meanwhile, Trump’s turning up the heat:
Trump confirmed that a new U.S.–China tariff deal is finalised, following a similar agreement with Mexico.
And he’s openly calling for the Fed to slash rates by a full percentage point.
Translation: Inflation’s falling, trade tensions are easing, and monetary policy could soon turn decisively dovish.
That’s a dream scenario for risk assets - especially crypto.
BTC ETF Flows Are Surging Again
Zoom out, and the fuel just keeps coming:
May saw $5.7B in net inflows into spot Bitcoin ETFs
Ethereum is outperforming BTC this week, up 7%
According to 21Shares, these macro and policy tailwinds could push Bitcoin through $110K and toward $138,500 as early as this summer.
And Grayscale’s Zach Pandl isn’t shy:
“Crypto has so much momentum right now due to macro demand for Bitcoin and regulatory clarity for DeFi that the rally can probably continue whether the Fed cuts or not.”
The Bottom Line
Bitcoin is just 3.77% below its all-time high.
Inflation is cooling.
Trade deals are coming in hot.
ETF flows are climbing.
And retail is still mostly on the sidelines.
That’s not the top.
It’s the wind-up.
Get ready for the real move. 😎
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BITCOIN TO INFINITY? ♾️
Tim Draper just doubled down.
Not on his $250K end-of-year target.
Not even on a $1M target.
He’s calling for Bitcoin to go to infinity - because in his view, in 10 years, the dollar won’t exist.
Who is Tim Draper?
Legendary VC - early investor in Tesla, Skype, Coinbase
Bought 30,000 BTC from the U.S. Marshals in 2014
One of Bitcoin’s earliest high-conviction believers
In his latest interview, Draper laid it out:
“Ten years from now… Bitcoin won’t be priced in dollars. There won’t be dollars.”
Why?
Because when you can:
Buy your food 🍞
Pay your rent 🏠
Even pay your taxes 💸
All in crypto…
“There’s no reason to hold fiat. Bitcoin becomes the primary store of wealth.”
It’s a bold take…
But from a guy who saw this a decade before most.
This isn’t just about price targets anymore.
It’s about a complete monetary regime shift.
And Draper’s bet?
Bitcoin is the endgame. ♟️
HISTORIC LOWS 📉
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 🐻
According to Glassnode, just 16.5 million ETH remains on exchanges - that’s only 13.65% of the total circulating supply.
And in the past 90 days alone, 1.4 million ETH (~$3.87 billion) has been pulled off exchanges.
We haven’t seen exchange balances this low since 2016.
Let that sink in…
This isn’t a market full of sellers.
It’s a market full of stackers.
As supply keeps drying up and demand continues to rise, order books are thinning fast.
And historically?
That kind of setup leads to one thing:
Explosive upside. 🚀
CRACKING CRYPTO 🥜
Senate's 68-30 cloture vote speeds GENIUS Act toward simple majority passage. Next vote expected for early next week, when lawmakers will decide to adopt the new bill language.
Crypto asset reserve bill lands in Ukraine’s parliament. Ukrainian lawmakers registered a draft bill on a state crypto asset reserve in the Parliament, officially allowing the National Bank to include crypto in the country’s state reserves.
Bitcoin to Benefit as Trump Likely to Appoint 'Uber-Dovish' Fed Chair: Paul Tudor Jones. The billionaire investor sees bitcoin, gold and stocks as keys to protecting wealth in an inflationary era.
Circle’s IPO frenzy sets new precedent for crypto firms eyeing public listings. CRCL's IPO highlights surging appetite for crypto infrastructure exposure, though its lofty valuation has sparked debate.
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? ✍️
Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)
What blockchain were the original CryptoPunks launched on? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: Ethereum 🥳
CryptoPunks were launched on Ethereum in 2017 by Larva Labs — and are considered one of the first major NFT collections, sparking the entire NFT movement. 💎👾
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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.
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