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GM to all of you nutcases. It’s Crypto Nutshell #568 keepin’ it chill… 🐻❄️🥜
We're the crypto newsletter that's more chaotic than a group of bank robbers realizing their perfect heist is anything but... 🎭🔫
What we’ve cooked up for you today…
😱 It’s over… Again…
🏀 Keep your eyes on the ball
📉 Blow out
💰 And more…
Prices as at 3:30am ET
IT’S OVER… AGAIN… 😱
BREAKING: Major U-Turn in Crypto Markets Sends Bitcoin Back Below $84K
Well that was fun while it lasted…
Sunday’s “Trump pump” vanished nearly as quickly as it appeared.
At the time of writing, Bitcoin is down ~8.57% trading at $84,000.
Which is lower than its price before Trump announced the US crypto reserve on Sunday. 😢
And it wasn’t just Bitcoin that fell off a cliff:
Ethereum is down 13.88%
XRP is down 15.93%
Solana is down 18.58%
Cardano is down 22.23%
So what happened this time?
Surprise, surprise… It’s the tariffs again.
As of today, Trump’s tariffs on Mexico, Canada and China are now live, sending risk assets into freefall.
As we pointed out last week, it’s not just the crypto markets feeling the impact of these tariffs.
US stocks are getting crushed as well:
Super Micro Computer: -13%
Nvidia: -8.7%
Intel: -4.2%
S&p 500: -1.76%
And we still have the 25% tariffs on the EU to look forward to…
Expect extreme volatility until it becomes clear exactly how these tariffs will impact the economy.
Our view remains consistent:
The big picture hasn’t changed.
This is just short-term noise.
Stay focused. 🚀
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KEEP YOUR EYES ON THE BALL 🏀
The debate over the upcoming U.S. Crypto Strategic Reserve is raging.
What should be included? How will they decide allocations?
According to Fred Krueger? Everyone is missing the forest for the trees.🌲
If you haven’t heard of him, Fred Krueger:
Worked on Wall Street for 10+ years 💼
An extremely successful entrepreneur - exited 10 companies, with some exits in the tens of millions 💰
Studied mathematics, with a P.H.D from Stanford University 📚
Here’s Fred’s take on the U.S. Crypto Reserve debate:
Everyone is fixated on which specific cryptos will be included - but that’s missing the bigger picture.
The U.S. government is officially buying Bitcoin, Ethereum, and crypto.
They are massively deregulating digital assets.
This is ridiculous.
If you had told us this would be happening last year, we wouldn’t of believed you.
Fred predicts that Bitcoin will make up at least 75% of the Strategic Reserve, no matter what:
Keep your eyes on the bigger picture.
Again, the U.S. government is officially buying Bitcoin & crypto.
Just a few years ago, this was unimaginable.
Don’t get caught up in specific allocations or short-term price moves—the long-term outlook is incredibly bullish.
But what do Crypto Nutshell readers think?
Yesterday, we asked you whether the US Crypto Reserve should be Bitcoin-only or a diversified portfolio
And the results were razor-thin…
Bitcoin-only just edged out the win with 50.49% of the total vote.
All eyes are now on the March 7 White House Crypto Summit. 👀
BLOW OUT 📉
The outflow streak hits three…
Last week, Digital asset funds experienced their largest weekly outflow ever, with $2.9 billion exiting.
This brings the three week total outflow up to $3.8 billion.
Let’s break it down.
Bitcoin once again saw the majority of outflows this week, with $2.6 billion exiting.
Ethereum did not escape the negative sentiment either, seeing a record weekly outflow of $300 million.
Meanwhile, a few altcoins bucked the trend.
Sui was last weeks best performer with $15.5 million in inflows.
XRP followed with $5 million in inflows.
As always, the United States was the focal point, with $2.87 billion in net outflows.
Switzerland, Canada and Sweden followed suit with outflows of $73.1m, $16.9m and $14.5m respectively.
Germany stood out with inflows of $55.3 million.
Why have digital asset funds experienced net outflows for the past three weeks?
Well as we’ve been saying, it all comes down to uncertainty.
Right now the markets are facing a more hawkish than expected Fed combined with Trump and his tariffs.
Not to mention the recent Bybit hack…
All of these factors have resulted in a mix of profit-taking and weakened sentiment towards risk assets.
CRACKING CRYPTO 🥜
Trump's crypto reserve faces backlash over ADA and XRP inclusion. Donald Trump's crypto reserve faces criticism as industry leaders debate inclusion of altcoins like ADA and XRP.
Bitcoin price action mirrors 2019 ‘Xi pump,’ are new BTC lows incoming? Analysts say Bitcoin’s recent weekend pump to $95,000 is eerily similar to the “Xi pump” in 2019.
U.S. Senate Expected to Vote on Erasing IRS's Crypto Broker Rule That Threatens DeFi. Senate leaders are said to be queuing up votes to reverse two Biden-era regulations tied to digital assets: the IRS DeFi rule and a CFPB digital-payments rule.
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”)
How much did Beeple's record breaking NFT sell for? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: $69 million 🥳
On March 11, 2021, Christie's sold Everydays: The First 5,000 Days (2021) by Mike Winkelmann, a.k.a. Beeple, for $69.3 million.
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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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