Today’s cryptocurrency highlights include:

1. Quantum Computing and Bitcoin: Discussions around quantum computing’s threat to Bitcoin are reignited following Google’s Willow chip release. Satoshi Nakamoto’s prior guidance suggests orderly transitions to new cryptographic standards if Bitcoin encryption is compromised. Analysts view quantum computing threats as decades away, urging investors to capitalize on current price dips.
2. Altcoin Liquidations: The largest altcoin long liquidations since 2021 occurred, with $1.6 billion liquidated and significant price drops (ETH -5%, SOL -6%, ADA -11%). Analysts believe this deleveraging could lead to healthier markets if excessive leverage unwinds further.
3. Ethereum to Solana Transition: Max Resnick, a former Ethereum researcher, joins Solana development, prioritizing fee markets and consensus improvements, marking Solana’s growing competition with Ethereum.
4. Relai Funding: Bitcoin investment app Relai raised $12 million, aiming for $1 billion in investments by 2025, as it plans to double its team in the coming year.
5. Magic Eden Airdrops: The NFT marketplace launches its ME token, enabling staking and participation in cross-chain challenges.

Next 24 Hours Predictions for Bitcoin:

1. Key Economic Data: The release of U.S. CPI inflation data (8:30 a.m. ET) could significantly impact Bitcoin’s price. Lower-than-expected inflation figures might spur bullish sentiment, while higher numbers could introduce volatility.
2. Market Recovery Post Liquidations: Following substantial altcoin liquidations, Bitcoin could see stabilization or a slight uptick as market leverage normalizes.
3. ETF and Corporate Activity: Strong demand from ETFs and acquisitions by institutional players like MicroStrategy could drive upward momentum.
4. Caution on External Events: Broader market developments, such as continued fallout from altcoin deleveraging or macroeconomic shifts, might influence Bitcoin’s short-term trajectory.