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GM to all of you nutcases. It’s Crypto Nutshell #694 campin’ out… ⛺🥜

We're the crypto newsletter that's more hilarious than two stepbrothers turning their rivalry into brotherhood... 😂🥁

What we’ve cooked up for you today…

• 🏦 Is it over?

• 🧃 Juicy institutional predictions

• 📉 Outflows are back

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

IS IT OVER? 🏦

BREAKING: Bitcoin slides below $110,000 as capital rotation shifts to risk-off mode

After a brief post–Jackson Hole rally, Bitcoin has plunged back under $110,000.

Completely wiping out all of last week’s gains and triggering nearly $900M in liquidations across crypto…

BTC hit a seven-week low near $109,000, down more than 11% from its all-time high less than two weeks ago.

Ethereum was hit even harder, tumbling 7.4% to $4,371 after trading above $4,900 earlier in the day.

XRP fell 4.8%, Solana plunged nearly 10%, and BNB dropped 4.2%.

Over 200,000 traders were wiped out in 24 hours - most of them late longs.

According to Presto’s Rick Maeda, this isn’t rotation anymore - it’s risk off:

The pain isn’t just in spot markets.

Crypto ETFs bled $1.43B in outflows last week - the largest since March. (More on this later)

And with September historically crypto’s weakest month (–3.77% average losses for BTC, –6.42% for ETH), seasonality might make it worse…

The bottom line: the market has flipped risk-off. Bitcoin is bleeding, Ethereum’s rally just reversed, and altcoins are selling off harder.

But history is clear: these flushes reset leverage, clear weak hands, and set the stage for the next leg higher. 

Short-term pain. Long-term story unchanged. 🚀

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JUICY INSTITUTIONAL PREDICTIONS 🧃

Matt Hougan - CIO at Bitwise - just released their first ever 10-year forecast for Bitcoin.

The most juicy part?

They are projecting Bitcoin will compound at 28.3% annually for the next decade.

Let’s run the math:

• Today: ~$120K

• 10 years of 28.3% CAGR = ~$1.2M per Bitcoin by 2035

This isn’t some wild prediction from a crypto influencer. This is coming straight out of Bitwise - the guys running one of the biggest Bitcoin ETFs on the planet. 

It’s conservative, it’s institutional, and that’s exactly why it matters.

Wall Street doesn’t see Bitcoin as a “speculative play” anymore.

They’re modelling it as the best-performing major asset of the next decade.

If that’s true?

Owning even fractions today could mean millionaire status in the future. 🥂

OUTFLOWS ARE BACK 📉

The streak is over…

Digital asset funds just logged their first big outflow in weeks - a massive $1.43 billion, the largest since March.

Let’s break it down.

The bulk of last weeks outflows came from Bitcoin, which bled $1.03B.

Ethereum wasn’t spared either, dropping $441M.

While XRP and Solana continued their hot streaks with inflows of $25.0M and $12.0M respectively.

Regionally, the U.S. led the exodus with $1.31B in outflows.

Sweden followed with -$135.5M and Switzerland with -$11.8M.

While Germany, Canada and Australia saw inflows of $18.4M, $3.7M and $3.5M respectively.

So what happened?

CoinShares says pessimism around the Fed drove $2B in outflows earlier in the week.

But sentiment flipped after Jerome Powell’s dovish Jackson Hole remarks, pulling $594M of inflows back in by week’s end.

Ethereum saw the strongest recovery. Mid-week inflows helped limit its losses to $441M - far less than Bitcoin’s $1B drain.

The message is clear: Fed fear triggered the sell wave, Powell’s pivot cushioned the blow, and ETH showed the stickier bid.

CRACKING CRYPTO 🥜

Wall Street giants plot $1 billion Solana treasury set to close in weeks shaking market. Galaxy, Jump and Multicoin line up Cantor Fitzgerald to quietly amass SOL.

ETHZilla Authorizes $250M Buyback, Expands Ether (ETH) Treasury to $489M. The company now holds 102,237 ether worth about $489 million.

US SEC opens comment period on proposed staked Injective ETF from Canary. The SEC is seeking public input on whether to approve a staked INJ ETF, setting the stage for its next steps on the proposal. 

Strategy buys $357M in Bitcoin as price drops to $112K. Michael Saylor’s Strategy, acquired 3,081 Bitcoin for $356.9 million last week, according to a SEC filing on Monday.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

p.s. all completely FREE (one click subscribe link)

• Raremints (link) - Daily crypto news

• Bitcoin Breakdown (link) - Daily Bitcoin news

• Techpresso (link) - Daily tech news and insights

• The Hustle (link) - Get Smarter on Business and Tech

• Your Next Breakthrough (link) - Personal growth with Mark Manson

• The Neuron (link) - AI trends and tools to keep you ahead

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”)

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: 32 ETH 🥳

Ethereum requires 32 ETH to run a validator, ensuring skin in the game for securing the network. 🛡️

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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.