GM to all of you nutcases. It’s Crypto Nutshell #734 buildin’ the framework… 🏗️🥜

We're the crypto newsletter that's more wild than a pirate sailing into battle with rum, curses, and chaos... ☠️⚓

What we’ve cooked up for you today…

What’s in the Crypto Nutshell Portfolio?

BREAKING: Crypto markets surge as Trump confirms October 31 summit with Xi Jinping

While markets were still reeling from the biggest liquidation in crypto history, Tom Lee was already buying.

After the sell-off that erased tens of billions in open interest, the Fundstrat founder doubled down on his conviction - calling the move:

And he didn’t just talk.

BitMine Immersion Technologies accumulated $1.5 billion worth of Ether, adding another 379,000 ETH to its balance sheet.

That brings BitMine’s total holdings to more than 3 million ETH, around 2.5% of the entire supply - making it the world’s largest Ethereum treasury.

Then came the macro spark.

President Trump confirmed an upcoming summit with China’s Xi Jinping, signalling a clear de-escalation in trade tensions that had rattled markets only days earlier.

The announcement ignited a broad crypto rebound - Bitcoin up around 2%, Ethereum and BNB each gaining 3.5%, and Solana rising nearly 4%.

Sentiment, which had plunged to “Extreme Fear” after the crash, finally started to recover.

Trump’s shift from tariff threats to diplomatic talks helped calm the storm that triggered the liquidation cascade, restoring confidence just as leverage was cleared from the system.

With policy easing, liquidity improving, and trade tensions cooling, the setup once again looks like the beginning of a broader recovery.

The dip wasn’t the end of the cycle.

It was the reset that kicks off the next leg higher. 🚀

Investors face a dilemma. Headlines everywhere say tariffs and AI hype are distorting public markets.

Now, the S&P is trading at over 30x earnings—a level historically linked to crashes.

And the Fed is lowering rates, potentially adding fuel to the fire.

Bloomberg asked where experts would personally invest $100,000 for their September edition. One surprising answer? Art.

It’s what billionaires like Bezos, Gates, and the Rockefellers have used to diversify for decades.

Why?

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It’s been a wild last 2 weeks in crypto. Lots of liquidations, chop and panic.

But according to Hunter Horsley, CEO of Bitwise: while traders were dumping, the big players were buying.

Bitwise just dropped its new Q3 report: Companies Are Buying Bitcoin.

Here’s the 2 main takeaways:

Hunter Horsley summed it up like this:

That’s the real story.

The rate of growth of institutions buying Bitcoin is ridiculous.

So if you ever think about panic-selling into a dip…

Just keep in mind who’s buying your coins. 👀 🐳

Let’s kick off the week with a look at the Bitcoin HODL Waves - one of the clearest snapshots of market conviction.

Each coloured band represents the percentage of Bitcoin that last moved within a specific time frame.

The cooler the colour, the older the coins - with purple showing Bitcoin that hasn’t moved in 10+ years.

As always, we’re focusing on long-term holders (LTHs) - defined as coins held for more than six months.

Here’s how the Bitcoin supply breakdown looks today compared to two weeks ago:

TL;DR: 71.21% of all Bitcoin hasn’t moved in over six months 🔒

That’s a 1.5% drop from two weeks ago - a noticeable shift, but not a structural one.

The 6–12 month cohort saw the biggest decline, signalling mild profit-taking as volatility spiked.

At the same time, the 1–2 year band continues to mature, reflecting coins aging into stronger hands.

Further out, the 10+ year supply inched higher again - that deep, untouched base of Bitcoin still growing quietly.

Meanwhile, the small dips across the 2–10 year range point to rebalancing, not extreme fear. This isn’t a wave of capitulation - it’s rotation.

The takeaway: long-term conviction remains unshaken. The base is steady, the tourists are gone, and the hands left holding? They’re not letting go. 💎

Mt. Gox repayments due Oct. 31: Will a supply wave hit BTC? Mt. Gox repayment deadline raises questions about whether exchanges will absorb a late-month supply wave or creditors will route coins through custody and over-the-counter channels.

John Bollinger says to ‘pay attention soon’ as big move could be imminent. John Bollinger spotted W bottom patterns in ETH and SOL charts while Bitcoin continues forming its base.

Bullish October Is Headed to Become its Worst in 10 Years. The historical average for October sits around 19.8%, next to November's 42% which is the asset's strongest month.

Solana decentralized exchange aggregator Jupiter unveils Ultra v3 offering improved trade execution, MEV protections and 'gasless support'. The updated protocol is "seamlessly integrated" into all Jupiter products, including its mobile and desktop apps as well as its API and Pro Tools.

Want to get even smarter? Check these out.

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Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

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

Trivia Answer: Around 2,000 🥳

Each Bitcoin block fits roughly 2,000–2,500 transactions, depending on size and complexity. ⛏️

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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.