GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter that's more delightful than discovering an ancient artifact that can bring objects to life... 🏺✨

Today, we’ll discuss:

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

• Crypto Expert’s portfolio revealed 🤑

• Short-term vs long-term holders in profit 🥊

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 49.17% and the current crypto market cap is $1.05T ▼0.30%

Biggest Winners of The Day 🤑

• Toncoin (TON) ▲1.16%

• Litecoin (LTC) ▲0.23%

• Dogecoin (DOGE) ▲0.09%

Biggest Losers of The Day 😭

• Polygon (MATIC) ▼4.90%

• Avalanche (AVAX) ▼3.46%

• Cardano (ADA) ▼2.98%

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

All price data as of 7:55am ET

BLACKROCK PURCHASED BITCOIN? 🪨

JUST IN: Mysterious Bitcoin wallet becomes 3rd largest BTC holder in 3 months 🕵️

A mysterious Bitcoin wallet has been flying up the ranks to become the third largest holder of Bitcoin in the world. In only three months…

The timing of this wallet has sparked some theories of who the owner/s could be.

According to BitInfoCharts, the wallet first received Bitcoin on March 8.

3 months later it’s sitting on a whopping 118,000 BTC - worth over $3 Billion at current prices. 🤯

Some twitter users have suggested it’s just a crypto exchange moving funds, however an emerging theory is that BlackRock is behind this wallet… 😮

Pure speculation at this point. No evidence actually points to this wallet belonging to BlackRock… unless… 😏

EXPERT OF THE DAY 💰

Todays crypto expert revealed his ENTIRE crypto portfolio going into the next bull-run.

For those of you who haven’t heard of him, todays expert is Jesse Eckel. He’s got an impressive track record. Jesse went from unemployed last bull-run to amassing $1.7 million dollars in only 1 year & 6 months. 🤯 

What's even more impressive is that he’s managed to hold onto the majority of it all in the bear market. He’s still a crypto millionaire.

How did he manage this in such a short period? 🤔 

A sh*t load of painstaking research and analysis.

His goal for the next bull run?

To go from $1 Million ➡️ $50 Million.

Which may seem crazy, but is actually an easier task than going from
$0 ➡️ $1 Million.

Here’s his entire portfolio & strategy for the next bull-run:

90% Ethereum

10% Made up of:

1. Optimism

2. Pendle

3. Akash

4. Uniswap

5. OHM

6. Sphere

7. Index

8. Polygon

9. Arbitrum

10. Atom

Okay - we know what you’re thinking.

“That list of 10 alt-coins is ridiculous! I haven’t even heard of some of them!” 😤 

Heck, there’s some names on that list that even we haven’t even heard of & we work in the in the crypto industry!

Keep in mind, these 10 alt-coins each only make up ~1% of his total portfolio, so a very small slice.

The 10 coins consist of mainly Ethereum layer 2’s or coins relating to decentralised finance.

Jesse’s strategy once boiled down is actually pretty simple.

He’s weighting 90% of his portfolio in Ethereum and then slowly deploying capital across to the smaller coins, once the bull-run kicks into gear.

Why? 

Jesse argues that every crypto cycle up until this point has followed the same playbook.

Whether it be the 4 year halving cycle or just plain human psychology, for whatever reason, history repeats. 🔄 

As a bull-cycle begins, we first see Bitcoin and Ethereum run-up, then capital flows into smaller projects and NFT’s which see huge gains.

Jesse is betting that this time, it won’t be different. He’s got 90% of his portfolio in Ethereum (he said Bitcoin works as well) to capture the initial first move up. After the first move up in BTC & ETH, he plans on allocating more and more into his 10 highest conviction altcoins.

Not a bad strategy if you ask us. 💪 

Nutty’s takeaway: Jesse is correct in that every bull cycle has followed the same playbook. Bitcoin & Ethereum run up first, then we see money flow elsewhere into the ecosystem.

Nobody knows for certain whether history will repeat, but the REAL key is knowing what the best performing alt-coins are going to be.

For every 1 that has huge gains, there’s 99 that go bust.

Something to keep in mind. 🤔

Let us know in todays poll if you’d like us to cover some lesser known coins that crypto experts are excited about in future newsletters!

TOGETHER WITH LEDGER 🪙

ON CHAIN DATA DIVE 📊

Last week Glassnode released a report which outlined that the market was “top heavy”. This basically means that a significant portion of the supply is held by people who have a purchase price close to or above the current price.

Taking a look at the Percent Supply in Profit chart we can see the large amount of coins that fell into loss as a result of the recent price dip. 📉

12.8% (2.48 million BTC) of the supply fell into an unrealized loss this week, a result of the “top heavy” market.

However on a more positive note… The total supply in profit is still sitting at ~60.5% (long term holders standing strong 💪)

So what happened with the long-term holders?

Well their balance sent to exchanges barely increased at all.

The total balance of long-term holders actually increased to a new all time high of ~14.63 million BTC. 📈

The below chart shows this more clearly. The red spikes represent long term holders sending Bitcoin to exchanges, notice how there aren’t any around the recent price dip.

From this it’s fair to say that long-term holders barely reacted to the FUD. 🛡️

The short-term holder supply remains at multi year lows (orange area). The chart below overlays (red area) the proportion of these short-term holders who are at an unrealized loss. The numbers are staggering.

Out of the 2.56 million Bitcoin held by short-term holders, only 300,000 Bitcoin (11.7%) are still in profit. 😱

Nutty’s Takeaway: It’s a tough time to be a short-term holder right now. 😢

It’s good to see that the long-term holders are still holding their ground. Will we see some of these short-term holders convert into long-term holders?

Who knows. People may be gearing up for the upcoming Bitcoin halving and ETF announcements.

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

What was one of the problems that Bitcoin solved?

• A) Quantum Gravity

• B) Global Warming

• C) Hodge Conjecture

• D) Double Spending

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) Double Spending🎉

Bitcoin solved the double spending problem. Before Bitcoin, there wasn’t a foolproof way to know whether the currency was being duplicated or double-spent (the digital version of counterfeiting money).

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.