GM to the winners club. Crypto Nutshell Pro #94 boundin’ in… 🦘🥜

If you’re new here, each Crypto Nutshell Pro is broken down into 2 sections:

The goal?

Help you understand exactly where we are in the cycle.

By now, you should have read through the following page: Read This First

(Click the button at the bottom of the page to continue the welcome series - there are 4 pages in total to read)

These give you a broad overview of the Crypto Nutshell Pro Portfolio and how we’re looking to play the second-half of this bull run.

And in case you missed last weeks Nutshell Pro, you can check that out here.

Now, let’s jump in…

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Please note that this information is exclusive to Crypto Nutshell Pro members, so refrain from sharing it. You are free to use it as you wish—whether as a starting point for your own research, as a tool to enhance your research skills, or simply to track how things unfold.</sub>

_{Ultimately, the choice of how to use this information is up to you. If you choose to invest based off this information, you accept full responsibility for that decision.}

<sub>This report presents a simplified & filtered overview of an extensive research process, which is based off high-quality data from paid reports, newsletters, and tools. Accessing this data is costly, costing tens of thousands per year, as many sources employ dedicated teams for data collection.

Crypto Nutshell Pro serves as a filter, analysing and synthesising this data to provide unique insights, drawing from deeper crypto expertise compared to many source teams. By starting with top-tier research, we aim to refine it into valuable insights for you to further explore and utilise as a resource.</sub>

Bitcoin’s sitting at $77,774, down about 0.2% on the week.

Ethereum’s at $2,443, down 3.1%.

So after seven days, we’re right back where we started.

Which is a bizarre place to end up, given what was in this week.

Bitcoin traded above $80,000 twice, its best levels since May.

Spot ETFs strung together their longest buying streak of the year.

Nvidia posted the biggest quarter any chipmaker has ever had.

Then on Friday the new Fed chair gave a speech, and the whole thing unwound.

Last Saturday we left you with one test: hold the breakout and it was the turn, lose it and it was just a squeeze.

Seven days on, it’s held.

Bitcoin’s still 22% higher than it was a month ago, and it spent this week trading at prices it hadn’t touched since spring.

But it didn’t go anywhere either, and the reason has almost nothing to do with crypto.

Two arms of the US government are now pushing in opposite directions.

One’s got a foot hard down on the gas.

The other just found the brake.

Wednesday and Thursday were the good bit.

Nvidia dropped its Q2 numbers: $96.2 billion in revenue, roughly $4 billion ahead of forecasts, the stock up 9% and more than $400 billion of market value added in an afternoon.

Every risk asset on the planet caught that updraft, Bitcoin included, and it pushed back over $80,000 for the second time in a week.

Then Friday morning came.

Kevin Warsh delivered his first Jackson Hole keynote as Fed chair, and the tone was hawkish from the opening minutes.

Bitcoin dropped roughly $2,000 in ninety minutes and slid under $78,000, with Bull Theory clocking more than $80 million of long positions liquidated inside a single hour.

Crypto wasn’t alone. Gold and silver shed a combined $700 billion in fifteen minutes, and across gold, silver, US stocks and crypto, Bull Theory put the four-hour damage at over $2.3 trillion.

The dollar ripped at the same time, with USD/JPY back above 160 for the first time since July.

Gold down, silver down, Bitcoin down, stocks down, dollar up.

That’s what a rates repricing looks like, and it’s the same story we’ve been writing about all summer.

The speech itself did two things, and the second one changes how everything you own gets priced.