Coinbase Advises Bitcoin to Prepare for Quantum Security Transition
- Quantum Security Preparation: Coinbase's independent advisory board recommends that the Bitcoin community begin transitioning to quantum-resistant cryptography immediately, as future risks warrant early planning to avoid potential market disruptions despite current quantum computers not posing a threat.
- Risk Assessment: The report estimates that between 1.7 million and 5 million BTC could face future quantum attack risks, with many coins held in older addresses that are already exposed, highlighting the need for protective measures for these assets.
- Governance Decision-Making: Coinbase's report refrains from providing specific recommendations on how to handle vulnerable Bitcoin, emphasizing that the final decision should emerge from the Bitcoin community's consensus process to uphold the principles of decentralization.
- Exploration of Technical Proposals: Technical proposals mentioned in the report, such as Hourglass and BIP-361, aim to provide solutions for Bitcoin's transition to quantum security, ensuring users can effectively manage their assets during future migration processes.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 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 crypto.
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 | 53976.561 | 56553.735 | 59609.971 | 62187.145 | 65243.381 | 67820.555 | 70876.791 |
| Fibonacci | 56553.735 | 58705.698 | 60035.183 | 62187.145 | 64339.108 | 65668.593 | 67820.555 |
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