GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter almost as exciting as discovering a pill that allows you to use 100% of your brain...💊🧠

Today, we’ll discuss:

• Recapping the last 24 hours in the world of crypto 🌏

• Why you shouldn’t wait to get some Bitcoin 🤑

• Offshore vs Onshore exchanges💰

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 50.31% and the current crypto market cap is $1.16T  ▼0.10%

Biggest Winners of The Day 🤑

• Shina Inu (SHIB) ▲4.21%

• TRON (TRX) ▲0.77%

• Dogecoin (DOGE) ▲0.60%

Biggest Losers of The Day 😭

• Litecoin (LCH) 3.66%

• Polygon (MATIC) ▼1.23%

• Bitcoin Cash (BCH) ▼0.98%

Only the top 20 coins measured by market cap feature in this section

Joe Biden may have unintentionally just became Bitcoin’s newest ambassador. 

President Biden tweeted a short clip of himself drinking coffee from a mug. The crypto community was quick to point out the laser eyes featured on the mug.

The “laser eyes” has been a popular trend for the Bitcoin community since the 2021 bull run. It felt like everyone was updating their profile pictures to include them. The most notable being Michael Saylor, Elon Musk and Tom Brady.

Take a look through the replies on Biden’s tweet, quite a few delighted and amused crypto community members enjoying the moment.

Now we hate to break it to you, but it turns out that this tweet by Biden wasn’t actually a reference to Bitcoin…who didn’t see that coming? It’s actually in reference to “Dark Brandon”, Biden’s meme alt-ego.

All price data as of 7:25am ET

EXPERT OF THE DAY 💰

This expert believes that not buying bitcoin under $30,000 right now is like not buying Bitcoin for $10 in 2011…

Or like not buying bitcoin at $500 in 2015…

Or $10,000 in 2019. 



Plan B, the anonymous dutch on-chain analyst, shared some fascinating charts showing where we are in the Bitcoin cycle. 


As you can see, we are right in the accumulation zone, right before a parabolic move upwards. 

Why is there always a parabolic move? 

Because right now is just before the halving. 

Will history repeat once again? Nobody can tell you that for certain. 

But Plan B believes it will.

Bitcoin is ready, are you? 

This comes after Plan B released his Bitcoin prediction last week, backing up his projection with 4 seperate models. 

If you missed that you can read the breakdown here.



But if you just want the Juice… he thinks Bitcoin in the next cycle will hit somewhere between $100,000 and $1,000,000. 



Let’s hope he’s right. 

🤞

Nutty’s Takeaway: 

As we get closer and closer to the halving - just 9 months away now - you are going to hear a narrative pop up again & again & again. 


That narrative will be that Bitcoin isn’t going to have a bull-run following the halving and that the 4-year cycle isn’t going to repeat. 

Nobody can say for sure whether there will be a parabolic rally or bull-run at all… 

But what you should know is that this narrative has popped up before the halving every. single. time. 

So take that as you will. With the Bitcoin ETF coinciding with the Bitcoin halving, we wouldn’t want to be betting against Bitcoin.

A million dollar Banksy got investors 32% returns?

Mm-hmm, sure. So, what’s the catch?

We know it may sound too good to be true. But it’s not only possible, it’s happening—and thousands of investors are smiling all the way to the bank, thanks to the fine-art investing platform Masterworks.

These results aren’t cherry-picking. This is the whole bushel. Masterworks has built a track record of 8 exits, the last 3 realizing 10.4%, 35%, and 13.9% net returns even while financial markets plummeted.

But art? Really? Okay, sceptic, here are the numbers. Contemporary art prices:

• Outpaced the S&P 500 by 131% over the last 26 years

• Have the lowest correlation to equities of any asset class

• Remained stable through the dot-com bubble and ’08 crisis

Got your attention yet? Offerings can sell out in just minutes but The Crypto Nutshell readers can skip the waitlist with this exclusive link.

ON CHAIN DATA DIVE 📊

You know how we’re always hearing about the constant regulatory pressure on U.S based exchanges? Well it turns out offshore exchanges have been experiencing larger Bitcoin outflows compared to U.S based exchanges. 🤔

Taking a look at exchange inflows and outflows is useful for getting an understanding of the current market sentiment and investor behaviours (Red = offshore and blue = onshore).

Before we go any further this is how the exchanges are categorised.

• Onshore: Coinbase, Kraken and Gemini

• Offshore: Binance, Huobi and OKX

Exchanges everywhere have been witnessing net outflows, but offshore exchanges have been taking on most of the load.

Taking a look at the above chart, offshore exchanges had a 5 month long stretch of Bitcoin inflows, however the story completely flipped in June 2023. There was a significant change in market sentiment with Bitcoin outflows growing rapidly, peaking in July with 44,555 BTC being taken out of offshore exchanges.

Now with U.S based exchanges facing constant regulatory scrutiny you’d think there would be more net outflows right? Nope. U.S exchanges have seen way less outflows. The highest monthly outflow for July was 22,241 BTC.

So what are these numbers like today?

• Onshore exchanges: Outflows of 13,346 BTC

• Offshore exchanges: Outflows of 32,466 BTC

The above chart is a combination of the previous two for an easier visual comparison.

Another interesting point is that the majority of the outflows from offshore exchanges come from Binance. In case you didn’t know, Binance has been under the pump recently with their lawsuit from the SEC.

Nutty’s Takeaway: So what does all of this mean for us? Exchanges play a vital role in the Bitcoin Network, without them it would be a bit of a challenge buying and selling whenever you wanted to. The above charts tells us that investors are losing confidence in the stability of offshore exchanges. This makes U.S exchanges appear more reliable leading to lesser outflows.

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

What is the circulating supply of Bitcoin?

• A) 21 million

• B) 17.72 million

• C) 19.45 million

• D) 20.04 million

Find out the answer at the bottom of this newsletter 😀

MEME CORNER 😂

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

Trivia Answer: C) 19.45 million 🎉

Bitcoin has a circulating supply of 19.45M coins and a max supply of 21.00M BTC.

NUTCASE REVIEW OF THE DAY 🔍

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.

“Net Return" refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. See important Regulation A disclosures at masterworks.com/cd.