GM and welcome to The Crypto Nutshell! 😉 🥜 

The crypto newsletter that’s as exciting as not getting charged extra for guac at Chipotle 🥑

Today, we’ll discuss:

• Recapping a HUGE day in the crypto world 💵

• Raoul Pal believes we JUST entered into “Crypto Summer” ☀️

• HOW much of the Bitcoin supply is in profit??? 🤷‍♂️

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 50.07% and the current crypto market cap is $1.25T ▲5.01%

Biggest Winners of The Day 🤑

• XRP (XRP) ▲66.67%

• Stellar (XLM) ▲52.78%

• Solana (SOL) ▲23.95%

Biggest Losers of The Day 😭

• Bitcoin Cash (BCH) ▼4.86%

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

In case you haven’t heard, It’s been an absolutely MASSIVE day in the world of crypto, in short:

• Court rulings deemed Ripple's XRP not a security, sparking a 73% surge in its value, making it the 4th largest cryptocurrency. 💵

• Bitcoin shot up to $31,500 - reaching a NEW 2023 high

• Ethereum blasted through $2,000

• Alex Mashinsky is under arrest for multi-billion dollar fraud at Celsius, facing allegations that could land him in prison for up to 115 years 🚔

The last 24 hours have been WILD. This XRP news makes one thing very clear… it is possible to win cases against the regulators.

Nutty’s hot take: For all you Ethereum holders out there, perhaps the biggest risk looming over ETH’s head essentially just got decimated.

If XRP isn’t a security… our bets on Ethereum never being ruled a security either… so expect to see some big moves out of ETH on the back of this news.

All price data as of 8:20am ET

EXPERT OF THE DAY - RAOUL PAL 🇬🇧 

Raoul Pal believes that we are at the point in the crypto cycle where prices start going parabolic.




The Macro Economic expert and founder of Real Vision believes that we have moved out of Crypto Spring and we are now in the early stages of Crypto Summer. ☀️


In a nutshell, here’s what Raoul’s been cooking up:


• Crypto Summer usually coincides with monetary stimulus aka. Money printer go brrrr.

• This cycle is very similar to the 2010/2011 Crypto cycle. Same kind of setup before a huge move upwards.

• Raoul doesn’t think the banking crisis is over and more bank failures are going to come.

• FED will be forced to bail out these banks, or at the very least bail out the depositors.

• Adding to these concerns, is the looming issue of commercial real estate. Offices were left vacant during COVID, and never reoccupied, which are now non-performing liabilities on many banks' balance sheets. Posing a significant, ticking time bomb for the banking sector.



But why would all this be good for crypto?

 🤷‍♂️

To put in simply, in environments with higher liquidity, assets further along the risk curve tend to benefit the most and provide superior returns.

This is because all the extra money sloshing around in the economy has to find a home, and it often ends up in assets that are further out on the risk-curve.



Think assets like innovation stocks, bio-techs and technology stocks. 



But what assets are the furthest out on the risk curve? 



Bitcoin and Cryptocurrency. 😲



So that, in a nutshell, is why Raoul thinks prices are about to go parabolic. 😉 

ON CHAIN DATA DIVE 📊

It’s been a BIG July for Bitcoin HODLer’s. Lets take a look at the supply in profit and loss chart to see why.

This chart tracks each coin and the price it was purchased at. Based on the current price, it is easy to determine if each coin is currently in profit or at loss.

• The green shaded area highlights all coins currently in profit

• The red shaded area highlights all coins currently at a loss

• The orange shaded area highlights the total circulating supply (the sum of the green area and the red area)

• The black line is the price of Bitcoin over time

So far in July, 2.47 million BTC moved from a state of loss to profit, representing 12.7% of the total supply. 😲

Wanna hear something even crazier? 🤪

The amount of coins currently in profit stands at a staggering 14.64 million, which is 75% of the total supply 🤯

Conversely, the supply held 'in-loss' has declined to just 4.79M BTC, reaching similar levels seen in July 2021, July 2020, April 2019, and March 2016.

Nutty’s Takeaway: When the profitable supply increases, more investors are making gains. The more an investor gets into profit the more likely they are to sell. If these HODLer’s do end up selling we may see a short term price dip.

But we wouldn’t be worried, there’s FAR too many positive catalysts on the horizon for Bitcoin & Crypto in general that any dips at this point would just be opportunities to stack more sats. 🤑 

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

In a blockchain, what does a block contain?

• A) A batch of pending transactions

• B) A bunch of coins

• C) A batch of confirmed transactions

• D) The secrets to the universe

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) A batch of confirmed transactions 🎉

When added to a blockchain, a “block” is just a batch of newly confirmed transactions.

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.