My mind so deadly it's just like the beanie is close to a holster
from Eminem (Ft. Slaughterhouse & Yelawolf) – BET Shady 2.0 Cypher Lyrics on Rap Genius
Meaning
His mind is a gun/weapon. A holster is something you store your gun in.
Also, He was wearing a beanie in the cypher and pointed to it during this line
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