Quantum Threat to Bitcoin? One Token Is Skyrocketing While BTC Falters

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Quantum risk resurfaces at the worst time for <a href="https://tech-oracle.com/btc-usd/">bitcoin</a>, but 1 token is loving it

What to know:

By Omkar Godbole (All times ET unless indicated otherwise)

Beyond concerns about the broader economic impact of the conflict in Iran, recent research has brought renewed attention to a potential long-term danger for Bitcoin: the development of quantum computing.

As a researcher in this field, I’ve been following the potential threat of quantum computing to blockchain security. Recent studies are suggesting the requirements to break Bitcoin’s cryptography with a quantum computer might be significantly lower than we previously thought. Google researchers indicate it could potentially be done with fewer than 500,000 qubits. Separately, a team from Caltech and Oratomic suggests that a system with around 26,000 qubits could crack the encryption protecting both Bitcoin and Ethereum in approximately 10 days. For context, qubits are essentially the building blocks of quantum computing power.

Charles Edwards, founder of Capriole Investments, warns that a breakthrough in quantum computing could undermine the fundamental principles of cryptocurrency, specifically the reliance on secure code and the idea of bitcoin as a stable, valuable asset. He estimates that between 25% and 30% of all bitcoins currently in circulation are potentially at risk from these future attacks.

Though currently just a potential threat, according to Haseeb at Dragonfly, these attacks suggest a timeframe for action: the network should transition to quantum-resistant technology around 2029.

Bitcoin, the most valuable cryptocurrency, has fallen from over $68,000 to around $66,250. This decrease is likely due to weak demand and increasing returns on bonds, which are making safer investments more attractive than riskier ones like bitcoin.

Despite an overall downturn in the cryptocurrency market led by Bitcoin, one digital currency, QRL, saw significant gains. In the last 24 hours, QRL – the currency powering the Quantum Resistant Ledger – jumped 40% to reach $1.62. Its total market value was approximately $127 million at the time this was reported.

QRL is a blockchain platform designed to be secure, even with the future development of quantum computing. It has been independently reviewed to meet enterprise-level standards.

While Bitcoin’s security could be compromised by future quantum computers due to its reliance on a specific type of encryption, QRL is designed to withstand these attacks. It uses a different, quantum-resistant signature method called XMSS.

XMSS is a modern encryption method approved by organizations like NIST because it’s designed to withstand attacks from future quantum computers. It works by creating unique, one-time signatures that are incredibly difficult for even the most powerful quantum computers to break, making systems using it very secure against potential future threats.

As a crypto investor, I’m keeping a close eye on projects like QRL. With all the talk about quantum computing potentially breaking current encryption, I think these kinds of solutions could become really valuable – and see their price go up – as people get more worried. It’s definitely something to watch!

What to Watch

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

  • March 31, 9:00 a.m.: U.S. S&P/Case-Shiller Composite-20 Home Price Index YoY for January (Prev. 1.4%)
  • March 31, 9:45 a.m.: U.S. Chicago PMI for March (Prev. 57.7)
  • March 31, 10:00 a.m.: U.S. Conference Board Consumer Confidence for March (Prev. 91.2)
  • March 31, 10:00 a.m.: U.S. JOLTS job openings for February (Prev. 6.946M)
  • Earnings (Estimates based on FactSet data)
    • Nothing scheduled.

Token Events

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

Conferences

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

  • Day 3 of 3: Tokenize! LATAM 2026 (San Juan, Puerto Rico)
  • Day 2of 4: EthCC (Cannes, France)
  • Day 1 of 2: Chainalysis Links (New York City)

Market Movements

  • BTC is down 0.82% from 4 p.m. ET Monday at $66,053.74 (24hrs: -2%)
  • ETH is down 0.31% at $2,015.51 (24hrs: -1.84%)
  • CoinDesk 20 is down 1.1% at 1,893.79 (24hrs: -2.15%)
  • Ether CESR Composite Staking Rate is up 5 bps at 2.76%
  • BTC funding rate is at 0.0018% (2.0093% annualized) on Binance

  • DXY is unchanged at 100.44
  • Gold futures are up 0.9% at $4,598.60
  • Silver futures are up 3.59% at $73.11
  • Nikkei 225 closed down 1.58% at 51,063.72
  • Hang Seng closed up 0.15% at 24,788.14
  • FTSE is up 0.69% at 10,197.55
  • Euro Stoxx 50 is up 0.48% at 5,568.53
  • DJIA closed on Monday up 0.11% at 45,216.14
  • S&P 500 closed down 0.39% at 6,343.72
  • Nasdaq Composite closed down 0.73% at 20,794.64
  • S&P/TSX Composite closed unchanged at 31,934.94
  • S&P 40 Latin America closed unchanged at 3,475.76
  • U.S. 10-Year Treasury rate is down 1.8 bps at 4.324%
  • E-mini S&P 500 futures are up 0.85% at 6,442.50
  • E-mini Nasdaq-100 futures are up 0.8% at 23,323.75
  • E-mini Dow Jones Industrial Average Index futures are up 0.91% at 45,880.00

Bitcoin Stats

  • BTC Dominance: 58.58% (-0.06%)
  • Ether-bitcoin ratio: 0.03054 (0.66%)
  • Hashrate (seven-day moving average): 996 EH/s
  • Hashprice (spot): $31.78
  • Total fees: 2.5 BTC / $167,768
  • CME Futures Open Interest: 102,450 BTC
  • BTC priced in gold: 14.6 oz.
  • BTC vs gold market cap: 4.46%

Technical Analysis

  • The chart shows daily swings in bitcoin’s 30-day implied volatility index, BVIV.
  • The index remains stuck in a sideways grind, pointing to market calm and low volatility.
  • Traders should watch for a breakout against the backdrop of the latest quantum-computing threat, as it would signal panic and increased price turbulence.

Crypto Equities

  • Coinbase Global (COIN): closed on Monday at $160.79 (-0.22%), +0.47% at $161.54 in pre-market
  • Circle Internet (CRCL): closed at $89.91 (-4.00%), +0.12% at $90.02
  • Galaxy Digital (GLXY): closed at $17.15 (-4.72%), +1.52% at $17.41
  • Bullish (BLSH): closed at $33.27 (-3.37%), +0.69% at $33.50
  • MARA Holdings (MARA): closed at $7.80 (-2.74%), -0.13% at $7.79
  • Riot Platforms (RIOT): closed at $11.83 (-7.58%), unchanged in pre-market
  • Core Scientific (CORZ): closed at $13.91 (-7.70%), +1.01% at $14.05
  • CleanSpark (CLSK): closed at $8.18 (-5.54%), +0.73% at $8.24
  • CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $32.33 (-8.13%), +2.78% at $33.23
  • Exodus Movement (EXOD): closed at $6.20 (-4.32%), +2.74% at $6.37

Crypto Treasury Companies

  • Strategy (MSTR): closed at $121.44 (-3.64%), +0.45% at $121.99
  • Strive (ASST): closed at $9.37 (-4.92%), +1.18% at $9.48
  • SharpLink Gaming (SBET): closed at $6.01 (-0.50%), unchanged in pre-market
  • Upexi (UPXI): closed at $0.95 (-5.10%), +0.63% at $0.95
  • Lite Strategy (LITS): closed at $1.04 (-5.45%)

ETF Flows

Spot BTC ETFs

  • Daily net flows: $69.4 million
  • Cumulative net flows: $55.98 billion
  • Total BTC holdings ~1.29 million

Spot ETH ETFs

  • Daily net flows: $5 million
  • Cumulative net flows: $11.56 billion
  • Total ETH holdings ~5.7 million

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2026-03-31 14:32