GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter that's as game-changing as waking up in a dystopian future, volunteering as tribute in a televised death match 🏹🔥

Today, we’ll discuss:

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

• What is Bitcoin’s next catalyst? 🤑

• Long term vs short term holders💰

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 49.67% and the current crypto market cap is $1.17T  ▼0.18%

Biggest Winners of The Day 🤑

• It’s just one of those days, no winners in the top 20 coins 😭

Biggest Losers of The Day 😭

• Dogecoin (DOGE) ▼1.95%

• Litecoin (LTC) ▼1.39%

• Solana (SOL) ▼0.98%

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

All price data as of 9:05am ET

PAYPAL STABLECOIN LAUNCH 🪙

JUST IN: PayPal aiming for DeFi push after stablecoin launch. 💵

If you didn’t hear, PayPal recently launched a stablecoin PYUSD and they have big plans. PayPal is hoping that this stablecoin will become useable for every use case in the crypto industry.

Senior vice president of blockchain, crypto and digital currencies, Jose Fernandez da Ponte had this to say on the Unchained Podcast.

PYUSD is fully compatible with Ethereum and developed as a viable alternative to USDT and USDC. It’s important to note that Da Ponte also mentioned that the stablecoin is fully compliant with US regulations…

PayPal being the payment processing giant that they are, this is a pretty interesting development in the world of crypto.

EXPERT OF THE DAY 💰

Today’s expert of the day has one piece of advice to crypto investors…

Don’t do anything. 🤔

If you don’t know Raoul Pal, he’s the founder and CEO of Real Vision & an expert at macroeconomics.

He was one of, if not THE first analysts to cover Bitcoin, writing up a research report on it way back in 2010.

In his latest interview, he got asked an interesting question:

What will be the next catalyst for Bitcoin? 🤷‍♀️

Raoul answered with brutal honesty - he has no idea & the next catalyst could come from anywhere at anytime.

A Bitcoin ETF being approved, the FED cutting interest rates, the bond market losing control, the Bitcoin halving…

The shoe could drop at any moment.

Although Raoul didn’t have the answer as to what would be the next catalyst - he had one piece of advice for investors -

Raoul argues that the best move most people can is to just buy & hold.

Timing the market is a fools errand.

Nutty’s Takeaway: We agree with Raoul here - when there’s an exponential technology that’s in a secular uptrend, the best move 99.9% of the time is just going to be buy, sit tight & hang on for the ride.

ON CHAIN DATA DIVE 📊

The Bitcoin supply held by long term holders crossed 75% 😮

Let's put this into context. 14.59 million out of 19.46 million currently available Bitcoin are in the hands of long term holders.

But what is a long term holder? 🤔

Glassnode defines a long term holder as anyone that has held their Bitcoin for longer than 155 days. Research shows that after 155 days you are increasingly unlikely to sell your coins. You’ve become what we call a HODLer.

Taking a look at the chart above we can see that the amount of long term holders has always been increasing. The only time that we see a dip in this metric is when Bitcoin reaches a new high.

This makes sense as long term holders accumulate during bear markets. Holding all the way until Bitcoin reaches new highs and then finally selling for a profit. That’s the smart play.

That’s exactly the market stage that we are currently in. Volatility is approaching all time lows meaning there is very little price movement. It’s a time of accumulation. A time to stack those sats. The amount of long term holders is growing.

People are confident in the future of Bitcoin. They are willing to hold during tough market conditions. Are you? 🤷

On the other side of the coin we have short term holders. They are the exact opposite of long term holders and are defined as holding Bitcoin for less than 155 days.

Notice how there are large spikes in short term holders around all time highs?

This is who the long term holders are selling to. A large spike in the amount of short term holders is an indicator that Bitcoin has topped out.

Nutty’s Takeaway: The above charts are telling us that right now is the time to accumulate Bitcoin. Long term holders are convinced that Bitcoin is the future. We can’t tell you what to do, but we sure know what we’ll be doing.

We’re curious. Are you a short term or long term holder? Let us know in the poll at the bottom of this newsletter.

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

What is "mining" in Bitcoin?

• A) The process of selling Bitcoin

• B) The process of confirming transactions and adding to the blockchain

• C) The process of removing transactions from the blockchain

• D) The process of digging up Bitcoin

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: B) The process of confirming transactions and adding to the blockchain 🎉

The primary purpose of Bitcoin mining is twofold: validating transactions to prevent fraud and adding new blocks to the blockchain, thereby creating new Bitcoins in a decentralised manner.

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.