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PLUS: ETF outflows
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GM to all of you nutcases. It’s Crypto Nutshell #565 feelin’ the pain… 🥹🥜
We're the crypto newsletter that's more action-packed than a cop trapped in a skyscraper full of terrorists on Christmas Eve... 🎄🔫
What we’ve cooked up for you today…
📉 The sell-off continues
🙏🏻 Do you not believe?
📈 Another all-time high
💰 And more…
Prices as at 4:10am ET
THE SELL-OFF CONTINUES 📉
BREAKING: Bitcoin, Broader Market Dips After Trump Plans to Impose 25% Tariffs on E.U
Bitcoin is getting smoked… again…
Earlier today, Bitcoin plunged to $82,200, its lowest price since November 2024.
This puts Bitcoin down -25% since its January 20th high, wiping out most of the post-election rally.
So what happened this time?
Well, Trump’s tariffs strike again.
During his first cabinet meeting, Trump announced plans for 25% tariffs on the EU.
“We have made a decision and we’ll be announcing it very soon… It’ll be 25% generally speaking, and that will be on cars and all other things.”
As soon as this news hit, markets tanked - and not just crypto.
With investors scrambling over the tariff’s impact on inflation, risk assets across the board are getting slammed.
As the saying goes:
Markets hate uncertainty.
But tariffs aren’t the only reason Bitcoin is bleeding out…
The Bitcoin ETFs have just seen their seventh consecutive day of outflows totalling -$2.985 billion!
BTC ETF Flows
Making matters worse, BlackRock just suffered its biggest daily outflow since launch with $418.1 million exiting in a single day.
CryptoQuant CEO
After the recent market selloff, many were expecting that to be the bottom.
But ETF outflows are accelerating, macro fears are growing, and momentum is weak.
Until we see a shift in sentiment, this dip might not be over yet. 🚨
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DO YOU NOT BELIEVE? 🙏🏻
Today, Bitcoin dipped below $85,000, going lower than most (including us) thought possible.
Some are panicking. Jason Yanowitz is not.
Jason, the founder of Blockworks (a $135M crypto media giant), fired off a tweet that cuts through the noise:
Jason isn’t just some random Twitter guru.
Jason runs one of the biggest crypto media companies, with an entire research division tracking on-chain data, macro trends, and institutional flows.
So what does someone with access to all that information do?
He goes all in.
Almost all of his net worth is tied to Blockworks (a bet on crypto).
His entire liquid portfolio is 100% crypto.
“I have deep, deep, deep conviction. I think it's one of the best things to work on for the world. From an allocation perspective, like risk-reward perspective? There's no better industry in the world to work in than crypto right now.”
Hedge fund manager and crypto veteran Mark Yusko summed up the current situation well:
At these levels, we’re buyers.
Are you? 🐂
ANOTHER ALL-TIME HIGH 📈
It’s time for another look at Ethereum’s supply side dynamics.
Today we’ll be focusing on the amount of Ethereum currently being staked.
Quick Note: Ethereum staking involves locking up ETH to support the blockchain’s security. In return, users earn rewards for staking.
If you’d like to learn more about staking, check out this article.
As of today, 57,697,086 ETH is staked.
That’s an increase of 632,564 Ethereum in just the past two weeks. (~$1.48 billion at today’s prices)
And yes, this marks yet another all-time high. (In fact, this metric literally sets a new all-time high daily)
Here’s the crazy part though…
That’s 48.06% of the entire circulating supply.
That means nearly half of Ethereum’s supply is in the hands of long-term holders - investors who aren’t looking to sell anytime soon.
With so much ETH off the market, supply is tightening fast.
Setting the stage for a potential supply squeeze…
CRACKING CRYPTO 🥜
XRP Ledger plans big upgrades to facilitate institutional DeFi. New programmability features on XRPL will enable developers to extend on-chain functionalities while maintaining high-security standards.
Bank of America CEO mulls entering stablecoin business. BoA’s CEO said that pursuing innovative financial technology and maintaining physical branches are central to the bank’s business strategy.
U.S. Bitcoin ETFs See Record Daily Outflow of Over $930M as Carry Trades Lose Shine to the 10-Year Treasury Note. Investors pulled out funds from bitcoin and ether spot ETFs Tuesday as dwindling basis in the CME futures dented the appeal of carry trades.
US House tax committee moves forward on bill to overturn controversial crypto IRS rule. The resolution got some heat from Democrats, who say Republicans are trying to weaken the IRS.
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”)
Who wrote Ethereum's Yellow Paper, which serves as the formal definition of the Ethereum protocol. |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) Gavin Wood 🥳
The Yellow Paper is a formal definition of the Ethereum protocol, originally by Gavin Wood
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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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