Overview
- Bitcoin is consolidating after a roughly 46% retreat from its October record, with sentiment gauges showing extreme fear and price hovering near $67,000.
- Developer Matt Corallo dismisses quantum worries as the driver of the selloff, pointing instead to capital rotation into AI, tighter liquidity, and miner margin pressure reflected in low hashprice and shifting data‑center strategies.
- Capriole’s Charles Edwards argues markets may pre‑discount quantum risk and projects a potential slide toward about $30,000 within a year if upgrade progress stalls, while still judging Bitcoin undervalued if migration advances in the next 2–3 years.
- Institutional attention has grown as BlackRock’s iShares Bitcoin Trust prospectus flags quantum computing as a potential risk that could force complex network changes.
- Risk assessments diverge: CoinShares estimates roughly 1.6 million BTC (about 8% of supply) are in legacy outputs with greater exposure, developers have floated draft BIP 360 (P2MR) as a first mitigation step, and multiple experts maintain practical quantum attacks remain a long‑term challenge requiring far more capable machines than exist today.