Market maker Wintermute's latest weekly market report indicates that the ratio of Bitcoin perpetual contract trading volume to spot trading volume has risen to 15 times. At the same time, funding rate volatility has decreased to the lowest level in this cycle, suggesting that market leverage is high but there is a lack of consensus on the direction. The current structure is more akin to "consolidation and accumulation," potentially brewing for a significant move in one direction. It believes that whether macro catalysts push prices upward or downward, the current market structure suggests that subsequent volatility could exceed existing pricing expectations.

Brent crude just hit $115 Treasury yields spiking Geopolitical chaos everywhere And #Bitcoin is sitting here being exactly what it always is Predictable. Immutable. Yours. 🟠

This should be the biggest news in the crypto world today. Google's latest published paper suggests that the date when quantum computers can crack Bitcoin may come earlier. In 2019, their estimate was 2035, but today's paper indicates it could be as soon as 2029. 2029 is roughly the next bull market, and there are about 3 years left. The crypto industry needs to speed up its quantum resistance solutions. • Original paper: