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GM to all of you nutcases. It’s Crypto Nutshell #592 barely watchin’… 🫣🥜

We're the crypto newsletter that's more epic than battling dark forces in a galaxy far, far away... 🌌⚔️

What we’ve cooked up for you today…

• 😱 Black Monday

• 🧙 This too shall pass

• 📉 Minor dip

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

BLACK MONDAY 😱

BREAKING: Crypto plunges as Trump tariffs brutalise global stock markets

Markets just witnessed one of the most violent weekends in recent history…

And unfortunately, it’s looking like the worst may still be ahead. 😢

Bitcoin crashed to a low of $74.7K.

Ethereum plunged 20%.

Solana shed 18.9%.

It’s a bloodbath out there.

The Crypto Fear & Greed Index is now well into the “Extreme Fear” territory.

So what caused the sudden crash after Bitcoin and Crypto held up relatively well last week? 🤔

Heading into Friday’s close, investors were cautiously optimistic.

Many expected some kind of trade resolution over the weekend.

What they got instead?

Dead silence.

Then, on Sunday night, the hammer dropped:

No rollback. No softening.

And Trump even doubled down on his tariffs:

The result? Absolute carnage:

• S&P 500 futures: -6%

• Nasdaq futures: -6.2%

• Dow futures: -5.5%

• US Stocks have now erased over $13 trillion in market cap since Feb 19

• The "Magnificent 7" stocks have lost over $5 trillion

US tech stocks were also crushed in overnight trading:

• Robinhood: -17%

• AppLovin: -17%

• Nvidia: -10%

• Tesla: -10%

• Meta: -8%

• Amazon: -6%

The biggest question now on investors minds:

Will these tariffs stick long-term?

• If yes: A U.S. recession is highly likely (64% chance on Polymarket)

• If no: This could be a historic buying opportunity (More on this in the next section)

Until then, markets remain on edge.

And Monday’s stock market open (3 hours from when this newsletter is sent out) could go down in history.

Buckle up.

Volatility ahead.

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THIS TOO SHALL PASS 🧙 

Bitcoin just nuked to under $80,000. 🤯

Equities? Biggest red day in 3 years.

Altcoins? Don't ask.

The reason?

Same old story — the market is still freaking out about Trump’s new tariffs...
And when equities bleed, risk assets get crushed.

Welcome to peak fear.

But as Raoul Pal just said:

Today’s crash has everyone losing their minds.🫨

But zoom out - this is actually the setup we needed.

What! How?

Because this much pain = massive pressure on the Fed.

When liquidity vanishes and markets collapse, the Fed is forced to step in:

• They’ll be forced to cut rates. ✂️

• They’ll be forced to print money. 🖨️

And when that happens?

That’s rocket fuel for crypto.

Days like today are ugly — no one enjoys them (us included).

But check this out:

Global Liquidity (aka financial conditions) is screaming higher - and it leads Bitcoin like clockwork.

So yeah, the pain is real.

But the setup?

Delicious. 😋

Are you ready?

MINOR DIP 📉

Let’s kick off the week with a checkin on the Bitcoin HODL waves! 🌊 

Each coloured band shows the percentage of Bitcoin that last moved within that time period.

As the colours get cooler, the age bands get older (purple being the oldest, representing coins last moved more than 10 years ago).

As always, we’ll be focusing on long-term holders today. (coins held for more than 6 months)

Here’s the current breakdown compared to two weeks ago:

• 6m - 12m: 7.94% (down from 8.95%)

• 1y - 2y: 11.63% (up from 10.81%)

• 2y - 3y: 8.26% (up from 8.22%)

• 3y - 4y: 8.43% (down from 8.77%)

• 4y - 5y: 7.46% (up from 7.15%)

• 5y - 10y: 14.90% (down from 14.94%)

• >10y: 9.21% (up from 9.20%)

TL;DR: 67.83% of all Bitcoin hasn’t moved in over six months

But that's also 0.21% dip from last check-in…

Key takeaways:

• The drop mainly comes from younger LTHs (6m–12m band), the most likely to panic sell into price weakness

• Older groups (Besides the 3y - 4y & 5y - 10y) continue to steadily grow

• Overall, there are still no major signs of widespread selling - this remains a strong and healthy HODL trend.

Bottom line: Aside from some panic selling among newer long-term holders, Bitcoin’s supply is staying locked up tight.

CRACKING CRYPTO 🥜

Ethereum market dominance sinks to a five-year low: Can the 'world computer' reverse its fortunes? Ethereum market dominance has hit a five-year low, falling below 8%, as competition from Bitcoin and alternative blockchains intensifies.

SEC Staff to Reassess Biden-Era Crypto Guidance Amid Regulatory Shakeup. This review is part of efforts to ease regulatory pressure on the digital assets sector and may lead to new regulatory frameworks.

Nearly 400,000 FTX users risk losing $2.5 billion in repayments. Nearly 400,000 FTX users risk losing $2.5 billion in crypto repayments unless they complete KYC verification before the extended June 1 deadline.

Bitcoin 'address poisoning' attacks on the rise, warns Casa CSO Jameson Lopp. "The attacks are a result of the fact that we're in a very low-fee environment" Lopp said.

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”)

MEME CORNER 😂

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

Trivia Answer: Hard fork 🥳

A hard fork in blockchain technology is a fundamental change to a cryptocurrency's protocol that creates a new, incompatible version of the blockchain

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HOW DID WE DO? 🤷

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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.