Bitcoin reversed sharply from roughly $76,000 to above $78,000 even as August PPI rose 5.4% year over year, CPI increased 0.4% for the month, oil remained above $100 and the 10-year Treasury yield approached 5%. Matt argues that the rally may reflect markets gaining certainty about the Fed, but he still considers roughly $76K through the low $80Ks the same broad Bitcoin price range rather than evidence of a new trend.
Researchers also cut by more than half a benchmark for the quantum resources needed for a key operation involved in a potential future attack on Bitcoin and Ethereum cryptography. The research does not mean either network can be cracked today, but Matt sees the combination of improving quantum hardware, more efficient algorithms and AI-assisted research as another reason crypto developers should accelerate post-quantum preparations before the threat becomes practical.
Happy HODLing
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