GM to all of you nutcases. It’s Crypto Nutshell #904 gallopin‘ on in…🐴🥜

We're the crypto newsletter that's more fluent than a linguist reading the warning before the alien ink dries… 🛸🖋️

What we’ve cooked up for you today…

What’s in the Crypto Nutshell Portfolio?

BREAKING: Bitcoin hits a two-week high above $65,500 as the US-Iran deal sends oil sliding

Bitcoin just gave the market its first real bottom test, and so far it's passing.

After diving to $59,000 on June 5, its lowest point of the whole cycle, BTC has clawed all the way back to around $65,800.

That's about 11% off the low, with another 2.3% added today alone.

This isn't just a random green candle either…

A possible US-Iran de-escalation has taken some heat out of oil, with Brent slipping to a two-month low near $86. Lower oil cools Treasury yields, and that tends to give risk assets like Bitcoin room to breathe.

At the same time, ETF demand is twitching back to life. Spot Bitcoin ETFs flipped to a one-day net inflow of about $85.8M on Friday.

There's even a tidy explanation for the dip itself.

A chunk of the recent selling was investors dumping Bitcoin ETFs to free up cash for the SpaceX IPO. With SpaceX now listed, that specific pressure looks done.

Which brings us to the bold call.

Standard Chartered's Geoff Kendrick told clients flat out: "I think we have now seen the low in crypto asset prices for the cycle." He signed off with "Winter is over. Welcome back to crypto Spring."

The follow-through is helping his case…

But a bank calling the exact bottom is still a forecast, not a fact, and this is the same desk that walked its target down from $150K to $100K as things got worse.

The Iran deal isn't even 100% confirmed, Trump's already muddied it, and the real tell is whether those ETF inflows keep coming and oil keeps sliding.

A drop back below $59K would void the whole thesis.

And for all the green, Fear & Greed is still stuck deep in fear.

So the mood has shifted, and the price is backing it up.

Last week, Bitcoin was fighting to avoid a breakdown.

Today, it's trying to prove the bottom's already in. 🚀

The market is expensive… historically expensive.

Most of the biggest stocks are already fully priced. Capital has crowded into the same mega-cap names — making true value harder and harder to find.

By early 2026, institutional money had stayed concentrated. Smaller companies had been overlooked. And beaten-down names had been left behind.

But here's the real question…

When the broader market is this expensive — which stocks are still cheap enough to offer real upside?

Our new report reveals 10 undervalued stocks trading under $10 per share — from companies too small for institutional money managers to touch… to out-of-favor names already working their way back.

If you're looking for real value in an overpriced market, start here.

View The 10 Stocks Now

As AI makes nearly everything infinitely abundant, Fred Krueger just pointed to the handful of things that go the other way.

Krueger is a Stanford PhD mathematician, former Wall Street prop trader, and author of "Bitcoin One Million: The Final Chapter of Fiat."

His framework for the AI era is sharp and simple.

Here's what he tweeted this week:

The logic is airtight. AI is about to flood the world with abundance. Infinite content. Infinite code. Infinite intelligence at near-zero cost. Anything that can be replicated becomes worthless.

But the things that can't be replicated? They become priceless.

In a world drowning in abundance, true scarcity becomes the ultimate luxury.

He followed it up with this:

The timing of his point is sharp.

We're now an era of trillion-dollar IPOs, with SpaceX securing a public listing that valued the company in the trillions, an event that minted an enormous wave of new wealth overnight. And all that new money has to go somewhere.

Krueger's bet? It floods into the only assets that can't be printed, replicated, or AI-generated. Aspen real estate. Oceanfront Miami. Basquiat. Warhol. The scarce trophies the newly rich always chase.

But above all of them, 1 asset eclipses the rest.

The hardest, most portable, most provably scarce asset ever created. The one that doesn't depend on a single city, a single artist, or a single building.

Bitcoin will eclipse them all. 💎

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 warmer the colour, the younger the coins - with red showing Bitcoin that has been held for less than one day.

Today, we’re focusing on short-term holders (STHs) - defined as coins held for less than six months.

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

TL;DR: 20.28% of all Bitcoin is in the hands of short-term holders.

Down from 21.07% two weeks ago. A 0.79% slide - and a fresh low for short-term supply this year.

The standout is the 1 week to 1 month band, which swelled from 2.85% to 3.82%. That's last period's front-end buying aging forward - coins bought a couple weeks back have settled into the next window up.

But here's the twist: the very front end actually cooled. Both the <1 day and 1 day to 1 week bands shrank, so brand-new buying slowed this fortnight rather than picking up.

At the back end, the 3-6 month band kept bleeding - 9.04% down to 8.20% - as another batch of coins crossed the six-month line into long-term territory.

Net it out: short-term supply is now barely above 20%, down from roughly 30% to start the year. The pool of reactive, panic-prone Bitcoin keeps shrinking… coins are graduating into strong hands faster than new buyers replace them. 💎

Pokemon Card Sales Are Surging on Crypto Platforms - Just Don’t Call It Gambling. Tokenized Pokemon card sales have jumped over the past year as crypto platforms turn collectibles into speculative, gacha-like markets.

Wall Street and crypto are crashing into each other as tokenized treasury markets hit $14.6 billion. Tokenized Treasuries keep growing even as exchange volumes fade, showing the institutional RWA story is still moving beneath the market chop.

Ethereum can quantum-proof accounts for just 7 cents, says Ethereum’s Kohaku lead. A proposed SPHINCS-based approach could make post-quantum signature verification cheap enough for Ethereum accounts while the network works on longer-term defenses.

Bitcoin mining difficulty drops 10% in second-largest negative adjustment of 2026. The cut gives surviving miners more BTC per active hashrate, but production economics remain stressed at current prices.

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

Trivia Answer: The smallest unit of Bitcoin, equal to one hundred-millionth of a BTC. 🥳

A satoshi is the smallest standard denomination of Bitcoin. Since 1 BTC can be split into 100,000,000 sats, people can talk about tiny Bitcoin amounts without using long decimals.

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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.