updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131In the latest crypto news, fresh U.S. and Israeli strikes on Iranian targets over the weekend have raised fears of a Bitcoin sell-off as conflict threatens Iran’s mining network. The attacks in the Middle East come amid escalating tensions involving the United States, Israel, and Iran. Traders reacted after reports linked potential infrastructure damage to
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]]>Quantum computing has become the latest all-purpose explanation for Bitcoin’s recent drawdown, but NYDIG says the numbers don’t back the narrative. In a Feb. 17 research note, NYDIG research head Greg Cipolaro argues that “quantum fears” are loud, but not a primary driver of the sell-off when you look at search behavior, cross-asset correlations, and broader risk positioning.
NYDIG frames “Cryptographically Relevant Quantum Computers” as the theoretical endgame risk investors keep circling. The problem is that market behavior doesn’t look like a repricing of an imminent existential threat.
First, Cipolaro points to Google Trends. Search interest for “quantum computing bitcoin” did rise, he wrote, but the timing matters. “Search interest for ‘quantum computing bitcoin’ has risen, but notably this occurred alongside bitcoin’s rally to new all-time highs, not ahead of sustained weakness,” the note said.
“In other words, heightened searches about quantum risk coincided with price strength rather than weakness. If the market were repricing bitcoin on an imminent technological threat, we would expect search intensity to lead or amplify downside risk, not accompany a period of gains.”
Second, NYDIG looks at how Bitcoin traded versus publicly listed quantum computing equities, specifically IONQ, QBTS, RGTI, and QUBT. If investors were rotating out of Bitcoin because quantum advances were “catching up,” you would expect quantum-linked stocks to diverge positively as Bitcoin falls. NYDIG says it saw the opposite. Bitcoin was positively correlated with those equities, and those correlations strengthened during the drawdown, suggesting a shared driver rather than a direct quantum-to-Bitcoin causality.
NYDIG’s conclusion is blunt on that point. “The data provides no evidence that quantum computing is the proximate cause of bitcoin’s weakness, even if it is the dominant risk narrative at the moment,” Cipolaro wrote. “The more plausible explanation is a broader macro repricing of risk across long-duration, expectation-driven assets. Bitcoin’s recent drawdown appears more consistent with shifts in overall risk appetite than with any discrete technological catalyst.”
The mechanism NYDIG highlights is familiar to anyone watching liquidity regimes. Quantum computing firms, it argues, are long-duration, expectation-driven assets with minimal revenues and high EV/revenue multiples. Bitcoin, while structurally different, often trades as a long-duration bet on future adoption and monetary dynamics. When risk appetite contracts, both can get hit together.
Meanwhile, NYDIG flags a divergence in derivatives markets that, in its view, better captures the current tape than quantum headlines. The 1-month annualized basis on CME has “persistently traded above” Deribit, which NYDIG uses as a proxy for onshore US institutional positioning versus offshore positioning.
Structurally higher CME basis implies US desks have remained more constructive, while the sharper decline in Deribit’s 1-month basis points to rising caution offshore and reduced appetite for leveraged long exposure.
At press time, Bitcoin traded at $66,886.
Featured image created with DALL.E, chart from TradingView.com
Bitcoin price started a major decline below $86,500. BTC is down nearly 10% and might soon test the $80,000 support zone.
Bitcoin price failed to continue higher above the $88,000 zone. BTC started a major decline below the $87,200 and $86,500 levels. The bears were able to push the price below $85,000.
It spared major bearish moves, pushing the price below $82,000. A low was formed at $81,000 and the price is still signaling more downsides. There is also a bearish trend line forming with resistance at $83,200 on the hourly chart of the BTC/USD pair.
Bitcoin is now trading below $83,200 and the 100 hourly simple moving average. If the price remains stable above $80,000, it could attempt a fresh increase. Immediate resistance is near the $82,000 level. The first key resistance is near the $83,200 level or the 23.6% Fib retracement level of the downward move from the $90,438 swing high to the $81,000 low.
A close above the $83,200 resistance might send the price further higher. In the stated case, the price could rise and test the $85,000 resistance. Any more gains might send the price toward the $85,700 level or the 50% Fib retracement level of the downward move from the $90,438 swing high to the $81,000 low. The next barrier for the bulls could be $87,000 and $87,500.
If Bitcoin fails to rise above the $83,200 resistance zone, it could start another decline. Immediate support is near the $81,000 level. The first major support is near the $80,500 level.
The next support is now near the $80,000 zone. Any more losses might send the price toward the $77,000 support in the near term. The main support sits at $75,000, below which BTC might struggle to recover in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $81,000, followed by $80,000.
Major Resistance Levels – $82,000 and $83,200.
Ethereum price extended losses and traded below the $2,865 zone. ETH is now consolidating losses and might aim for a recovery if it clears $2,920.
Ethereum price failed to remain stable above $2,950 and extended losses, like Bitcoin. ETH price declined below $2,880 and $2,865 to enter a bearish zone.
The bears even pushed the price below $2,840. The price finally tested $2,800 and is currently consolidating losses. There was a minor upside above the 23.6% Fib retracement level of the downward wave from the $3,067 swing high to the $2,784 swing low.
Ethereum price is now trading below $2,900 and the 100-hourly Simple Moving Average. If the bulls can protect more losses below $2,800, the price could attempt another increase.
Immediate resistance is seen near the $2,920 level. There is also a bearish trend line forming with resistance at $2,920 on the hourly chart of ETH/USD. The first key resistance is near the $2,960 level or the 61.8% Fib retracement level of the downward wave from the $3,067 swing high to the $2,784 swing low. The next major resistance is near the $3,000 level. A clear move above the $3,000 resistance might send the price toward the $3,065 resistance.
An upside break above the $3,065 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,120 resistance zone or even $3,150 in the near term.
If Ethereum fails to clear the $2,920 resistance, it could start a fresh decline. Initial support on the downside is near the $2,840 level. The first major support sits near the $2,800 zone.
A clear move below the $2,800 support might push the price toward the $2,780 support. Any more losses might send the price toward the $2,720 region. The main support could be $2,650.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $2,800
Major Resistance Level – $2,920
Former New York City Mayor Eric Adams has launched a Solana-based meme coin that he said is aimed at fighting antisemitism and supporting the next phase of innovation in the city.
The token, called the New York City token (NYC), was announced in a Jan. 13 post on X and quickly went live for trading on the Solana decentralised exchange Jupiter.
In the post, Adams shared a link to the token’s official website and said the project was built to fight the spread of antisemitism and anti-Americanism across the US and New York City.
The NYC token initially saw strong momentum after it began trading.
It rallied to a high of $0.58 and briefly reached a market cap of $580 million, according to DEXScreener data.
As the price fell, accusations surfaced online that the team behind the token may have removed liquidity, adding to fears of a potential rug pull.
Crypto analyst Rune flagged data indicating that at least $3.4 million had been drained from the token’s liquidity pool.
Separately, analytics posted by Bubblemaps suggested that a wallet linked to the token’s deployer removed $2.5 million in USDC liquidity when the token was trading near its peak.
After the price had already plunged by more than 60%, about $1.5 million in USDC was added back.
Still, roughly $900,000 was not returned, which further fuelled suspicion among some community members and investors.
The allegations have not been confirmed, but the timing and size of the liquidity movements quickly became a central focus of discussion.
In response to the concerns, the NYC token X account released a statement claiming the project is using Time-Weighted Average Price (TWAP) mechanisms to manage price stability.
The account said funds were being added to the liquidity pool gradually to reduce the risk of further disruption after the initial volatility seen during the launch.
Despite that explanation, the episode has kept attention on how liquidity is handled for newly launched meme coins, especially when trading activity accelerates rapidly across decentralised markets.
While the token’s official website offers limited detail about the project’s long-term direction, Adams said in a Fox Business interview that proceeds from the NYC token would go toward nonprofits focused on raising awareness about antisemitism and anti-Americanism through educational campaigns.
Other proposed use cases include funding blockchain and crypto education, along with scholarships for students in underserved communities.
Adams officially stepped down as mayor on Jan. 1, after being replaced by Zohran Mamdani.
During his time in office, he was one of the most outspoken political figures in support of cryptocurrency.
His initiatives included converting his first three paychecks into Bitcoin and Ethereum, creating the Office of Digital Assets and Blockchain Technology, and launching the NYC Blockchain Plan to encourage responsible innovation and attract Web3 businesses.
The world’s largest asset manager, BlackRock, transferred Bitcoin and Ethereum into Coinbase today, following the outflows that the BTC and ETH ETFs recorded on December 31. This development also comes amid the expiry of $2.2 billion crypto options today, which also has the market on edge. BlackRock Deposits Bitcoin and Ethereum To Coinbase Amid Options
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]]>A new report has warned that a potential decision by MSCI to exclude digital asset treasury firms could force billions of dollars in crypto-linked selling. This could add pressure to markets already facing a downturn. Should Investors Be Ready for a Sell-Off Amid MSCI Review? In a latest report published by BitcoinForCorporations, the cumulative value
The post Another Crypto Sell-Off Ahead? MSCI Review Sparks $15B Market Crash Fears appeared first on CoinGape.
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