GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter that's more mind-bending than waking up within a dream within a dream... within another dream. 🌀🛏️

Today, we’ll discuss:

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

• There’s a coordinated media attack on Bitcoin? 🗡️

• Checking in on the Ethereum exchange balance 💰

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 49.67% and the current crypto market cap is $1.18T ▲0.37%

Biggest Winners of The Day 🤑

• Shiba Inu (SHIB) ▲4.37%

• Dogecoin (DOGE) ▲1.99%

• Solana (SOL) ▲1.42%

Biggest Losers of The Day 😭

• Toncoin (TON) ▼1.65%

• Cardano (ADA) ▼0.42%

• Litecoin (LCH) ▼0.22%

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

JUST IN: Grayscale has come forward, urging the SEC to approve all of the proposed spot Bitcoin ETF’s at the same time in order to avoid one having an unfair advantage over the others. 👨‍⚖️

The letter argues that the SEC shouldn’t pick “winners and losers”, a fair decision should be made for all.

Everyone in the crypto space is anxiously awaiting the verdict of the ETF applications submitted by BlackRock, Invesco, Valkyrie, VanEck, WisdomTree, Fidelity and ARK Invest. 💸

Here’s something we never thought we’d be writing. Margot Robbie recently spoke about Bitcoin and how it gives off “ken energy”. Checkout the video link below.

Make of this what you will. 🤣🤣

All price data as of 7:30am ET

EXPERT OF THE DAY - MICHAEL SAYLOR

Did you know that Michael Saylor, through his company, MicroStrategy, holds 152,333 Bitcoin? 🤑

This equals $4.5 Billion dollars worth of BTC. 😲

Why Bitcoin? Why didn’t he choose, stocks, bonds, debt or gold? In his latest interview, he explained why.

Saylor believes that Bitcoin is the ONLY suitable asset for all categories of investors world wide. That’s what makes it so damn attractive. Here’s the crux of Saylor’s argument.

Imagine this:

Average person - wants to save their money in something like bonds.

Bond: Has a 4% yield.

Currency supply: Expanding at 7-8% per year.

Result? A 97% loss of wealth over the course of 3 generations. 😱

Okay. So clearly bonds don’t work.

What about stocks? What if I just put all my excess savings into the S&P index?

Stocks: Historically goes up 7-8% per year.

Currency supply: Expanding at 7-8% per year.

Result? Wealth preservation. The value of your investment is going to be exactly the same over 3 generations.

You’re essentially treading water. What about if you want to get ahead?

Well there’s only one asset that has consistently beaten the rate of currency expansion by a meaningful margin.

Bitcoin.

That’s why to Saylor, there is no second best.

Nutty's takeaway: How come everytime I listen to Saylor talk about Bitcoin, I get the urge to sell everything I own and put it into BTC? Anyone else? 🤣🤣

ON CHAIN DATA DIVE 📊

Lets check in on everyone’s second favourite crypto…Ethereum.

The Ethereum Balance on Exchanges recently hit a 5 year low and is continuing to decline every day. This brings the total amount of Ether held on exchanges to 17.86 million. An Ethereum supply shock is looking more and more likely.

Let’s put this into context.

This means that only 14.85% of the total Ether supply is currently held on exchanges, compared to the 2021 bull run where 26% of the supply was held on exchanges.

You’ll notice that the decline really sped up around November 2022. Do you know what happened in November 2022? That’s right. FTX collapsed. A large amount of investors lost trust in exchanges and moved their crypto into self custody wallets.

Another major event that caused this decline in exchange balances was the Shanghai upgrade.

The Shanghai upgrade allowed validators to withdraw their staked ETH. Everyone thought this would result in large amounts of withdrawals, but the complete opposite happened. Staking deposits actually outpaced staking withdrawals.

Nutty’s Takeaway: Putting all of this together. The declining balance of Ethereum on exchanges is a clear bullish sign. It looks like Investors are not looking to sell any time soon and instead are turning their attention to staking.

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

What month will the next Bitcoin halving event take place?

• A) April 2025

• B) August 2024

• C) April 2024

• D) March 204

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: D) April 2024 🎉

The next Bitcoin halving is estimated to occur during April 2024. Checkout this link for a live countdown.

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.