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BTC re-takes $70,000 as Michael Saylor addresses Quantum Computing threat

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BTC re-takes $70,000 as Michael Saylor addresses Quantum Computing threat

Crypto markets are adding to overnight gains in U.S. morning trade on Friday, with bitcoin climbing above $68,000, up nearly 17% since hitting $60,000 late yesterday.

Bitcoin is now higher by 2.5% over the past 24 hours. Ether is up 2.2% and solana 2%. Outperforming is XRP , which has climbed to $1.50, now higher by 17% over the last day.

Crypto-related stocks are seeing major upside moves Friday after plunging in the previous session.

Strategy (MSTR) — which reported a $14.2 billion fourth-quarter loss late Thursdy — is higher by 14%, though at $122, still lower by 22% year-to-date. Galaxy Digital (GLXY) is up 15% and bitcoin miner MARA Holdings (MARA) is up 12%.

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Underperforming on Friday is bitcoin miner-turned AI infrastructure provider IREN (IREN), down 1.8% after disappointing earnings results Thursday night.

Saylor gets serious about Quantum

Those looking for bottom signals are pointing to last night’s Strategy earnings call in which Michael Saylor pledged a commitment to leading a Bitcoin security program that will address the quantum threat.

Some in crypto have argued that bitcoin’s security model faces a serious threat from quantum computing — a threat so imminent that many investors are either selling or refusing to allocate to bitcoin at all.

“Saylor’s announcement tells me prices have finally gotten the Bitcoin community to acknowledge and address quantum risk,” wrote Quinn Thompson.

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Poised for technical bounce

Paul Howard, director at crypto trading firm Wincent, noted that bitcoin is now back at price levels last seen 14 months ago with key momentum indicator RSI flashing deeply oversold conditions. He added that trading volumes in BTC and ETH have surged to their highest in over two years. That technical setup that often invites at least a short-term bounce.

“It would be odd if we did not see at least some short term reversion here,” he said.

Updated (14:55 UTC): Adds price of bitocin rising past $70,000.

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Crypto World

Oil Rose 3% to Open the Week: Here’s What Moved the Market on Monday

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Oil prices jumped more than 3% on Monday, pushing Brent crude above $116 a barrel. West Texas Intermediate (WTI), the US benchmark, climbed to roughly $102 per barrel.

The latest rise comes as the US-Israel war on Iran entered its fifth week with no signs of abating.

Oil Extends Its War-Fueled Rally 

Several escalatory developments over the weekend fueled the surge. President Donald Trump told the Financial Times he could possibly seize Kharg Island, the terminal that handles roughly 90% of Iran’s crude exports.

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The US president struck a mixed tone on diplomacy with Iran, saying he was “pretty sure” of making a deal with Iran but conceding that talks could still collapse.

Meanwhile, Iran’s parliament speaker warned that Tehran would “set them on fire” when American forces arrived and promised consequences for US-allied nations in the region. 

The oil price surge is far from over, according to market analysts, who warn that the prolonged closure of the Strait of Hormuz could drive crude even higher.

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“A scenario in which the Strait remains closed for an additional month would be consistent with oil prices rising towards $150/bbl and constraints on industrial consumers of energy supply,” Bruce Kasman, global head of economics at JPMorgan, said.

According to Bloomberg, US officials and Wall Street analysts have also begun discussing the possibility of crude reaching $200 per barrel.

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Asian Stocks Tumble, Crypto Feels the Pressure

The energy shock rippled across Asia. Google Finance data showed that Japan’s Nikkei 225 fell over 4.5%, while South Korea’s KOSPI dropped more than 4.3% as import-dependent economies repriced risk.

The volatility has spread to crypto markets, with asset prices dipping early in the morning before rebounding. 

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“The market briefly crashed just now — ETH dropped below $1,940 and BTC fell below $65,000,” Lookonchain reported.

Oil above $100 per barrel continues to pressure risk assets by fueling inflation expectations and delaying anticipated Federal Reserve rate cuts.

The post Oil Rose 3% to Open the Week: Here’s What Moved the Market on Monday appeared first on BeInCrypto.

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Lido DAO Mulls $20M LDO Buyback to Boost Token Price

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Lido DAO Mulls $20M LDO Buyback to Boost Token Price

Lido’s decentralized autonomous organization is considering a one-off $20 million buyback of its governance token to address so-called price dislocation, which is at “historically depressed levels” relative to Ether, according to the DAO. 

The proposal, submitted Friday, seeks permission to swap 10,000 Lido Staked Ether (stETH) tokens, currently worth $20 million from the DAO’s treasury for Lido DAO (LDO), arguing that LDO is undervalued.

“This is not a routine fluctuation. It represents one of the most significant dislocations between LDO’s market price and its underlying protocol fundamentals in the token’s history.”

A token buyback of this size could boost the price of the token, which has fallen roughly 96% from its all-time high. In November, a Lido DAO member pitched an automated buyback mechanism for LDO to improve the token’s price. However, that proposal hasn’t been implemented.

LDO’s change in price relative to ETH since 2024. Source: Lido DAO

Lido DAO pointed out that LDO is trading at a steep discount to Ether (ETH) at a ratio of 0.00016, roughly 63% below its two-year median.

This is despite the protocol holding the top spot of the Ethereum liquid staking market, with a 23.2% share of staked Ether, according to Dune Analytics data. The protocol’s dominance has even been flagged as a centralization risk to the network in previous years.

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Share of Ethereum network validators. Source: Dune Analytics

Related: Ethereum builders propose ‘economic zone’ to tackle L2 fragmentation 

LDO is currently trading at $0.30, down 95.9% from its $7.30 high set in August 2021, according to CoinGecko data. LDO’s $255 million market cap makes it the 141st largest token by value at the time of writing.

“That dislocation is not justified by a proportional deterioration in protocol performance,” Lido DAO said. 

Lido DAO proposes buying stETH in batches

Lido DAO proposed buying up to 10,000 stETH in smaller batches of 1,000 to buy LDO. 

Lido DAO said it would use limit orders or adopt a dollar-cost averaging strategy to avoid market volatility. 

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