GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter less messy than being a hitman taking care of a 12-year-old girl while teaching her the tricks of the trade...🔫🌱

Today, we’ll discuss:

• Recapping the last 24 hours in the world of crypto 🌏

• Plan B dropped his Bitcoin prediction for the next bull run 🤑

• How many investors purchased Bitcoin at $30,000 💰

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 49.76% and the current crypto market cap is $1.18T  ▼0.14%

Biggest Winners of The Day 🤑

• Bitcoin Cash (BCH) ▲3.61%

• Shiba Inu (SHIB) ▲2.16%

• Toncoin (TON) ▲1.53%

Biggest Losers of The Day 😭

• TRON (TRX) ▼4.68%

• Stellar (XLM) ▼2.63%

• XRP (XRP) ▼2.33%

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

BREAKING: SEC asked Coinbase to halt trading in everything except bitcoin, CEO says.

Brian Armstrong goes on to say, “We really didn’t have a choice at that point, delisting every asset other than bitcoin, which by the way is not what the law says, would have essentially meant the end of the crypto industry in the US”

For more on this story checkout this article.

All price data as of 7:45am ET

EXPERT OF THE DAY - PLAN B 🧢

This Bitcoin expert is predicting that 1 Bitcoin will get to between $100,000 - $1,000,000 at some point in the next bull cycle.

He’s got the models to back him up too.

Plan B, the anonymous on-chain analyst who is behind the famous Stock-To-Flow model, over the weekend finally released his official Bitcoin prediction.

Here’s how he came to it.

Plan B laid out 4 separate Bitcoin valuation models, all of which had over a 90% accuracy in prediction.

Those 4 models were based on these variables:

1. Time

2. Supply

3. Mining Difficulty (hash-rate)

4. Distribution

He then extrapolated all 4 of these models out into the future, and took the upper and lower bounds to come up with his prediction.

Those bounds? Between $100,000 and $1,000,000.

Now although these numbers are wildly different, I don’t think any of us would be complaining about a six figure Bitcoin. 😉🥂

Nutty’s takeaway: Now although price models & predictions are always fascinating and give some great insight, they should by no means be relied upon. Keep in mind Plan B’s stock2flow model did break down at the end of the last bull-run, despite being wildly accurate up until 2021.

ON CHAIN DATA DIVE 📊

Today’s chart’s are pretty unique and unveil an interesting dynamic within the Bitcoin market. We’ll be looking at the UTXO Realized Price Distribution (URPD).

Now it may sound complicated, but it’s actually quite easy to understand. Each bar on the chart shows us the amount of existing Bitcoins that were last moved at that specific price point. For example, there are currently just over 500,000 Bitcoins that were last purchased at $26,770.50.

The x-axis is determined by simply dividing the all time high price into 100 equally spaced blocks.

Straight away you’ll notice the blue shaded area, the amount of Bitcoin supply between $15,000 and $30,000 clearly stands out. This indicates that there has been a large volume of coins changing hands over the last 12 months.

Taking a look at the red shaded area, 25% of the supply was purchased at prices greater than $30k. This section represents survivors from the 2021-22 cycle who never sold, currently holding unrealized losses. Otherwise known as the true diamond hand Hodlers.

Splitting the above chart into short-term/long-term holders is also quite interesting.

• A large portion of long-term holder supply was purchased in the $15,000 to $25,000 range, currently in profit

• All coins above $30,000 are held by long-term holders

• The $20,000 to $30,000 has seen expanding short-term holder volume despite constant regulatory pressure in the US

Nutty’s Takeaway: These charts combined once again show us the strong HODL mentality of the Bitcoin community. The vast majority of holders are all in it for the long-term which is an obvious bullish signal. Investors that could have taken profits recently when Bitcoin was trading around $31,000 have decided not to and are sticking around the foreseeable future.

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

How much Ethereum has been burned since the merge?

• A) ~881,000

• B) ~563,000

• C) ~902,000

• D) ~347,000

Find out the answer at the bottom of this newsletter 😀

MEME CORNER 😂

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

Trivia Answer: A) ~881,000 🎉

According to Ultra Sound Money 881,734.61 Ethereum has been burned since the merge (at the time of writing).

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.