Coinbase Warns Bitcoin Security at Risk from Quantum Computing Advances
- Security Risk Warning: David Duong, Coinbase's Global Head of Investment Research, highlighted that Bitcoin's cryptographic security is under severe threat due to rapid advancements in quantum computing, potentially exposing nearly one-third of Bitcoin's supply to market vulnerabilities.
- Wallet Vulnerabilities: Approximately one-third of Bitcoin is stored in wallets utilizing exposed encrypted outputs, making them prime targets for quantum computing attacks, which could jeopardize Bitcoin's long-term security.
- Uncertain Market Reaction: Despite quantum computing being in its early stages, the community's response to this risk remains unclear, with a noticeable lack of discussions on social media, indicating insufficient market awareness of security issues.
- Potential Economic Impact: Although quantum mining seems distant, experts emphasize that signature security is the primary concern under current technological constraints, and failure to address these vulnerabilities could significantly impact Bitcoin's market stability.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36137.94 | 48068.97 | 60407.96 | 72338.99 | 84677.98 | 96609.01 | 108948 |
| Fibonacci | 48068.97 | 57340.118 | 63067.842 | 72338.99 | 81610.138 | 87337.862 | 96609.01 |
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