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- 🥜 Don't make this catastrophic mistake
🥜 Don't make this catastrophic mistake
PLUS: Major Bitcoin Outflows
GM to all 42,344 of you. Crypto Nutshell #221 hoppin’ by. 🦘 🥜
We’re the crypto newsletter that's more riveting than embarking on a quest to destroy a powerful artifact and save the wizarding world... 🧙♂️🌌
What we’ve cooked up for you today…
😄 Grayscale outflows slowing
🐮 Don’t make this bull-run mistake
🌊 Major outflows
💰 And more…
MARKET WATCH ⚖️
Prices as at 4:35am ET
Only the top 20 coins measured by market cap feature in this section
GRAYSCALE OUTFLOWS SLOWING 😄
BREAKING: Fidelity Bitcoin ETF rakes in reported $208 million, offsetting Grayscale outflows alone
Outflows from Grayscale’s Bitcoin ETF continued to slow for the fifth day in a row.
According to data from Farside Investors, Fidelity’s Bitcoin ETF saw net inflows of $208 million on Monday.
These inflows from Fidelity alone were enough to outweigh Grayscale’s outflows.
Confirmed by ETF analyst James Seyffart, Grayscale experienced net outflows of $191.7 million on Monday.
The lowest daily outflow since it’s conversion to an ETF.
This marks a 70% drop from Grayscale’s peak daily outflows of $641 million (on January 22). 📉
At the time of writing, BlackRock’s daily flow data has not been published. But we expect it to be even higher than Fidelity’s.
Excluding Grayscale, the newly launched Bitcoin ETFs have purchased ~140,000 Bitcoin over 11 days of trading.
BlackRock alone has purchased ~50,000 Bitcoin.😱
Sell-side pressure from Grayscale is slowing down.
And wouldn’t you know, the price of Bitcoin immediately began to rebound. (once again breaking through $43,000)📈
We’re so back. 😎
TOGETHER WITH STOCK MARKET RUNDOWN 📈
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DON’T MAKE THIS BULL-RUN MISTAKE 🐮
Crypto has been the best performing asset class of the last decade.
2024 & 2025 promises to be no different.
But - there's one mistake that could be catastrophic to your returns.
FOMO.
Today, macro-economic expert, Raoul Pal, was interviewed by Anthony Pompliano. Within it, he outlined the one mistake all investors must avoid in the 2024 & 2025 bull-run.
First off, because it's extremely volatile, crypto is a difficult asset to deal with.
"We've all made mistakes and everybody makes mistakes. It's very hard dealing with an asset, crypto, that is very volatile."
As we go deeper into the bull-run, emotion will start to cloud decision making.
“When it runs, it really runs. You become overwhelmed by emotion. FOMO. You see your friends bought that 100x dog-coin and you're like: ‘I want some of that’. You want to look for 100x’s.”
This is a great way to lose money.
Raoul has 3 rules to make sure you make the most of the returns & you maintain your sanity:
Custody your own crypto
Don’t trade
Hold quality assets (Bitcoin, ETH, Solana)
If you want to be a filthy degenerate (like us) and buy smaller assets?
Make sure it's only 10% of your portfolio.
“If you can do that with 90% of your portfolio you will do well. Keep 10% to be a total filthy degen. Do what the hell you want, because that will go to zero. We've all got the wallet of shame.”
Protect yourself from yourself.
As things begin to get more crazy, make sure you don’t lose your mind. 🤯
MAJOR OUTFLOWS 🌊
Time for our weekly check in on digital asset fund flows. (globally, not just the US ETFs)
Last week there were major outflows totalling $499.7 million.
The main contributor to this was Grayscale with $2.2 billion in outflows last week.
Whereas the newly created Bitcoin ETFs experienced net inflows of $1.8 billion.
If you’re new around here, or not quite sure what we mean by digital asset investment products, checkout this short article.
As you can expect, a majority of these outflows were centred on Bitcoin.
Last week Bitcoin experienced net outflows of $478.9 million.
Ethereum also had a rough week with net outflows of $38.8 million.
Whilst short Bitcoin experienced net inflows of $10.6 million (traders expecting further price drops).
Since most of the outflows can be attributed to Grayscale, it’s no surprise that the US is the biggest loser here.
The US, Switzerland and Germany saw net outflows of $408.8m, $59.8m and $31.7m respectively.
Coinshares notes that Grayscale outflows may soon be coming to an end. Grayscale’s daily outflows continued to reduce as the week went on.
Since launch day, the Bitcoin ETFs have experienced net inflows of $807 million even if you include Grayscale in the equation.
That’s crazy. 🤯
Bitcoin ate that sell-side pressure like it was nothing.
Foreshadowing what’s about to come…
CRACKING CRYPTO 🥜
Bitcoin surges to $43k as ETF inflows outpace sell pressure. Bitcoin (BTC) has made a striking recovery, climbing above the $43,000 mark on Jan. 29, as market dynamics hint at a resurgence in investor confidence.
BlackRock Bitcoin ETF passes $2B holdings as GBTC outflows dip 50%. Bitcoin ETF momentum is building thanks to reducing GBTC outflows, new data shows, as BTC price strength seeks to flip $42,000 to support.
JPMorgan says GBTC outflows ‘continue to slow’. JPMorgan analysts led by Kenneth Worthington found that the spot bitcoin ETFs saw roughly $15 million of net sales on Friday.
WHAT WE’RE READING 📚
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CAN YOU CRACK THIS NUT? ✍️
Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)
Approximately, what is Bitcoin's current market cap? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Click to watch 😂
Trivia Answer: B) $850 billion 🥳
At the time of writing, Bitcoin’s current market cap is $850 billion.
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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
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