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GM to all of you nutcases. It’s Crypto Nutshell #633 flippin’ the script… 📜🥜

We're the crypto newsletter that's more epic than a warrior rising from slavery to shake an empire... 🏛️⚔️

What we’ve cooked up for you today…

• 🏦 It’s over

• 😿 Most people will miss it…

• 📈 Pressure building

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

IT’S OVER 🏦

BREAKING: BlackRock’s Bitcoin ETF ends 31-day inflow streak with biggest outflow ever

After 31 straight days of inflows, BlackRock’s streak has come to an end… 😥 

On May 30, IBIT posted its largest daily outflow ever at $430.8 million, snapping a record-breaking month-long streak.

It’s the biggest exit since the fund launched in January 2024, and $12.7 million larger than its previous outflow high.

BlackRock wasn’t alone in the red this week…

Zooming out, all 11 U.S. spot Bitcoin ETFs saw a combined $616 million in outflows on the day - marking the second day in a row of net losses.

And across the board, U.S. spot Bitcoin ETFs saw $144.8 million in net outflows - marking a rare weekly pullback after months of consistent inflows.

Even with the pullback, the totals remain staggering:

• BlackRock alone is nearing $70 billion in BTC holdings

• May saw $6.2 billion in new inflows into IBIT

• Bitcoin is up 9.14% in the past month, despite the recent dip

So what gives?

Some analysts are baffled that Bitcoin hasn’t surged more, considering the volume of capital that has flowed in.

But as Derive’s Nick Forster points out:

Inflows ≠ instant price action.

Especially in a market this size.

The bottom line:

IBIT just cooled off - but the broader trend is still intact.

And remember…

ETF outflows are part of the game.

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MOST PEOPLE WILL MISS IT 💸

Fred Krueger is one of the most underrated voices on Crypto Twitter.

A mathematician turned hedge fund manager, he’s been calling major Bitcoin moves for years.

This week, Fred dropped a brutal truth:

Fred’s point is simple:

People overthink.
They hesitate.
They miss the move.

Fred’s telling everyone to not wait for the crowd.

You need to be positioning early - because by the time most people feel “ready”?

It’ll already be too late. ⏳

PRESSURE BUILDING 📈

Let’s kick off the week with a look at the Bitcoin HODL Waves - one of the clearest snapshots of market conviction.

Each coloured band represents the percentage of Bitcoin that last moved within a specific time frame.

The cooler the colour, the older the coins - with purple showing Bitcoin that hasn’t moved in 10+ years.

As always, we’re focusing on long-term holders (LTHs) - defined as coins held for more than six months.

Here’s how the Bitcoin supply breakdown looks today compared to two weeks ago:

• 6m - 12m: 12.31% (up from 10.55%)

• 1y - 2y: 11.01% (down from 11.51%)

• 2y - 3y: 7.90% (up from 7.81%)

• 3y - 4y: 6.74% (down from 7.32%)

• 4y - 5y: 8.68% (up from 8.34%)

• 5y - 10y: 14.82% (down from 14.84%)

• >10y: 9.26% (up from 9.24%)

TL;DR: 70.72% of all Bitcoin hasn’t moved in over six months. 🔒

That’s a meaningful jump from 69.25% just two weeks ago - a +1.47% increase.

The surge in the 6–12 month band is the headline here.

It shows that a large batch of short-term holders are now aging into longer-term conviction - refusing to sell.

We also saw slight declines in the 1–2y and 3–4y cohorts, which likely reflects light profit-taking or simple reallocation.

But the key trend remains unchanged:

The 2–3y, 4–5y, and >10y bands are all up.

Long-term holders aren’t flinching - they’re holding firm.

Bitcoin’s liquid supply is shrinking fast.

The longer this continues, the more pressure builds on the upside.

CRACKING CRYPTO 🥜

IMF asks for urgent clarification from Pakistan over 2,000MW power allocation to Bitcoin mining. The IMF is concerned about the impact of Pakistan powering Bitcoin mines and AI data centres amid electricity shortages.

Bitcoin advocate Max Keiser casts doubt over new BTC treasury companies. Bitcoin maximalist Max Keiser argues that Strategy has an advantage over newer Bitcoin treasury companies because the company has weathered a bear market.

Michael Saylor Outlines Strategy’s (MSTR) Bear Market Playbook at BTC Vegas. Flexibility and optionality at the core of capital strategy for MSTR.

Auction for Ross Ulbricht's prison mementos, artwork raises $1.3 million in BTC. Ulbricht's final ID card scored a winning bid of 11 BTC, the most for any item in the collection of prison-related memorabilia.

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? ✍️

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MEME CORNER 😂

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Trivia Answer: Offline storage, making it less vulnerable to hacks 🥳

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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.