GM to all of you nutcases. It’s Crypto Nutshell #895 cyclin‘ on through… 🚴🥜

We're the crypto newsletter that's more battle-ready than a council room where the quiet advisor already moved the fleet at dawn… 🗺️⚔️

What we’ve cooked up for you today…

What’s in the Crypto Nutshell Portfolio?

BREAKING: Bitcoin drops to seven-week low under $71K as US-Iran ceasefire hopes fade

Strategy just sold some Bitcoin.

But before you lose your mind, they only sold 32 BTC. (They purchased 24,869 BTC two weeks ago)

That’s not a lot…

And it isn’t the first time they’ve sold some Bitcoin either. The company also sold some BTC back in 2022.

But this one still lands at an awkward moment.

Strategy sold 32 BTC for about $2.5M in late May to help fund preferred-stock distributions. In normal terms, that is tiny. The company still holds hundreds of thousands of Bitcoin, and this sale barely dents the treasury.

But markets do not only trade on maths.

They trade on narratives too.

For years, Strategy has been the corporate Bitcoin conviction trade.

Michael Saylor's cleaner version of the promise has been that the company should never be a net seller of Bitcoin. (Which is still true)

So when BTC is sitting around $70.5K, down nearly 4% on the day, even a tiny sale gets noticed.

The short-term setup doesn’t look great at all.

Bitcoin is sliding while U.S. stocks are still pushing into record-high territory.

That makes this harder to blame on a broad risk-off market.

Iran and oil pressure add to the background stress, but equities are not exactly falling apart.

And the weird part is that some parts of crypto still look alive.

HYPE is holding up far better than Bitcoin today, which makes this feel less like everything is broken and more like Bitcoin itself is being tested.

The long-term thesis has not disappeared.

Strategy did not suddenly dump its entire stack. Wall Street is still building crypto rails. Tokenisation is still moving.

But short term, Bitcoin is sitting right on the line where sentiment can change fast.

If buyers step in around $70K, this may look like another ugly stress test.

If they don’t, the market may start asking a much harder question:

Was this just a symbolic sale...

Or was it the first crack people were waiting to point at?

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When a man who has built financial models for 30 years says he's never seen a mispricing this big, you stop scrolling and pay attention.

That man is Porter Stansberry. Founder of Stansberry Research and now MarketWise, one of the most respected independent financial research empires ever built. His work reaches millions of investors.

And on The Pomp Podcast, he dropped a number that should make every Bitcoin holder sit up:

His model says fair value is $134,000. Bitcoin is trading far below that. And the gap between the two is the widest it has ever produced.

Why the disconnect? Stansberry's answer is sharp.

Tech stocks have been historically strong. All the risk capital, all the fast money, all the hedge fund allocations have flooded into Nvidia and the memory stocks. And that money had to come from somewhere.

It came out of Bitcoin.

A decade. From a man whose entire career is built on valuation models and being early to mispriced assets.

This lines up with what every sharp voice has been saying. Fundamentals ahead of price. Capital temporarily rotated elsewhere. A coiled spring waiting for the flows to reverse.

When the AI trade cools and risk capital rotates back, the model says there's a long way up to fair value.

The discount is on the table. The question is who's paying attention. 🧨

Three weeks of outflows. And the bleeding is getting worse.

Digital asset funds saw $1.67 billion in outflows last week - the third consecutive negative week and the second-largest weekly outflow of 2026, behind only the January 23rd sell-off.

Let's break it down.

Bitcoin lost $1.44 billion in a single week - the largest weekly Bitcoin outflow of the entire year.

Year-to-date inflows have been shredded, falling from $3.9 billion three weeks ago to just $1.2 billion today.

Months of institutional accumulation unwound in a matter of weeks.

Ethereum shed $257 million, roughly in line with last week's outflow.

But the most telling shift is in the altcoins.

Three weeks ago, 11 assets were recording meaningful inflows. Last week it was nine.

This week? Five.

Only XRP ($20.3 million), Hyperliquid ($10.8 million), and Near ($7.6 million) saw anything notable come through the door.

Regionally, the US continues to drive the entire story with $1.63 billion in outflows.

And this week, Europe cracked too.

Germany saw $25.7 million leave. Sweden and Hong Kong followed with $6.6 million and $4.5 million respectively.

Total AUM has fallen to $141 billion from $148 billion, the lowest since early April.

Three-week cumulative outflows now stand at $4.21 billion.

The pattern is starting to mirror January-February, which delivered five consecutive negative weeks before exhausting itself.

The question is whether we're closer to the end of that pattern or the middle of it.

For now, the institutional exit is accelerating… 📊

Whitehat Helps Recover $2M in ETH Stuck Since 2016 ICO. A whitehat developer helped unlock more than 1,000 ETH trapped in a failed 2016 ICO refund contract.

Japan's ruling party supports crypto ETF trading, yen-based stablecoins. Japan’s ruling party backed crypto ETF trading and yen-based stablecoins, adding another regulated-market access thread outside the U.S.

Anchorage rolls out platform to reduce crypto trading counterparty risk. Anchorage launched a custody-linked settlement platform aimed at reducing exchange pre-funding risk for institutions.

Dogecoin gains access to Paxos network used by PayPal and Venmo. House of Doge partnered with Paxos, potentially opening a DOGE access path through regulated fintech infrastructure.

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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: Hal Finney 🥳

Hal Finney was an early cryptographer and Bitcoin contributor. In January 2009, Satoshi sent him 10 BTC in what is widely treated as the first Bitcoin transaction between two people.

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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.