Recent progress in quantum computing has reignited a long-standing concern for bitcoin BTC$77,571.31.

A sufficiently powerful cryptographically relevant quantum computer could, in theory, break bitcoin’s elliptic curve signatures, exposing coins with visible public keys, particularly early Satoshi-era wallets, according to bitcoin analyst James Check.

Quantum doomsayers warn that this would unleash a flood of supply and crash the market. The numbers suggest otherwise.

The threat of quantum computing is not in question.

Roughly 1.7 million BTC sit in Satoshi-era addresses that could be vulnerable under such a scenario. That is about $145 billion at current prices in potential sell pressure, which sounds catastrophic, but is in fact manageable.

During bull markets, long-term holders (investors that have held bitcoin for at least 155 days) routinely distribute between 10,000 and 30,000 BTC per day. At that pace, the entire Satoshi-era supply equates to roughly two to three months of typical profit taking. In the most recent bear market, more than 2.3 million BTC changed hands in a single quarter, exceeding the full quantum “target,” with no systemic collapse.

In addition, monthly exchange inflows approach 850,000 BTC. Derivatives markets cycle through notional volumes equivalent to the entire Satoshi stash every few days. What appears massive in isolation becomes relatively ordinary when set against bitcoin’s existing liquidity and turnover.

A sudden, concentrated release would still matter. It would likely drive volatility and could trigger a prolonged downturn, according to Check. But even that scenario assumes economically irrational behavior. Any actor capable of accessing such a trove would be incentivized to distribute gradually, likely hedging through derivatives to minimize slippage and maximize returns.

Bitcoin markets routinely absorb supply on the same order of magnitude as the P2PK era coins. The timeframe is measured in months, not years.

The real issue is not mechanical sell pressure. It is governance. The bigger issue is potentially freezing the Satoshi coins, through BIP-361, then letting everything play out as it should.

Google Cloud has entered into a multi-year strategic partnership with global private equity and investment firm CVC Capital Partners to accelerate the adoption of AI across its portfolio companies.

According to an April 23 press announcement, the collaboration spans sectors such as retail, healthcare, financial services, media and entertainment, software, telecommunications, and industrials.

As part of the agreement, Google Cloud and CVC Capital Partners will help businesses deploy agentic AI systems more efficiently. They will provide streamlined access to Google Cloud’s AI stack, including tools such as the Gemini Enterprise Agent Platform, Agent Builder, Agent Gallery, and underlying AI infrastructure.

Portfolio companies in this initiative will also get early access to select Google Cloud AI products. This advantage will help them stay at the forefront of emerging technologies.

Google Cloud will provide CVC portfolio companies with advanced cybersecurity solutions. These include offerings from Mandiant and Wiz to address AI-related threats. It will also support data sovereignty requirements through localized data residency services. This is especially true for companies operating in EMEA regions via partners such as S3NS.

The collaboration will also involve Google’s forward-deployed engineering teams. These teams will work directly with CVC and its portfolio companies to tackle technical challenges. They will also speed up the rollout of AI-driven solutions. 

In addition, Google Cloud will act as a distribution channel for CVC’s software portfolio. This will be done through its co-sell programs and Marketplace, expanding go-to-market opportunities.

Northslope expands Gemini Enterprise push with dedicated AI practice

In a separate but related development, Northslope has introduced a dedicated Gemini Enterprise Practice as it steps up efforts to support organisations adopting agentic artificial intelligence across core business functions.

Under the new setup, Northslope will collaborate closely with Google Cloud to design, test, and roll out enterprise-grade AI systems using the Gemini Enterprise platform. The move comes as more companies shift toward what is being described as the “agentic enterprise,” where AI agents are embedded directly into workflows to improve efficiency and decision-making.

As part of the rollout, Northslope plans to embed its Forward Deployed Engineers within client teams to build mission-specific AI systems aligned with operational requirements. These teams will deliver production-ready AI workflows, with agents structured to adapt over time as business needs change.

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2117.36, down 1.9% (-40.48) since 4 p.m. ET on Wednesday.

All 20 assets are trading lower.

Leaders: XLM (-0.6%) and CRO (-0.9%).

Laggards: UNI (-3.9%) and ETH (-2.9%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Key Insights

• Increasing open interest amid price fall indicates new capital flowing into the market before a breakout.
• Bollinger Bands contracting and relatively steady RSI hint at a volatility squeeze, typically followed by significant price movement.
• Intelligent money holds a greater long-term position than retail investors.

PENGU Set for Critical Breakout Period

It looks like PENGU is entering a very crucial period as the technicals, along with derivatives market analysis, are pointing towards a breakout period for the cryptocurrency. At the moment, PENGU is stuck in a tight range, with the volatility gradually declining during recent sessions. Such developments generally indicate a big price movement in the making.

Currently, we are witnessing the emergence of a standard squeeze pattern, wherein the price range is gradually closing up. As this happens, the pressure starts building on buyers and sellers, who are waiting to enter a new trend. At the same time, all signs point to the bulls taking control of the market soon.

Bands Compressing Indicates Upcoming Expansion

One of the best indications we have at the moment is provided by the Bollinger Bands, which are now narrowing at an extreme rate. The fact that they are compressing means that volatility is low, and that the market is set to break out. As has always been seen in the past, when this happens, prices are set to move sharply.

On the other hand, the RSI indicator stands at 56, meaning that there is continuous buying pressure but that it is not yet overbought. Therefore, there should be more room left before we see a bearish trend forming in the market. Finally, the MACD is relatively flat, suggesting that the momentum in the market is balanced. These indicators suggest that the market is in the process of accumulation.

Repetition of Resistance Tests Heightens Breakout Odds

PENGU has made several tests on an important resistance level of around $0.008, with each repetition seeming to erode the sellers’ resolve. This is noteworthy since multiple attacks on a resistance level often burn up the available liquidity, thereby increasing the probability of a breakout on the next attempt.

As the resistance level becomes weaker, the breakout odds will continue rising. After the breakout, the automated trading system and momentum-based algorithms will likely add further upward pressure. As such, the price may quickly surge towards the next target of $0.009.

The narrowing range indicates that algorithmic traders are keenly watching the resistance level. Therefore, once it breaks out, there will be a quick rally.

The Bullish View Supported by Increase in Open Interest

An additional key element of the bullish sentiment is the increase in the open interest. It has risen by about 6.86% to reach $22.2 million, despite the spot price falling by over 8%. The significance of this difference is that new open interest is being added, rather than previous contracts being closed out.

In many cases, such actions signal strategic positioning, whereby investors are positioning themselves to profit from future price moves. Instead of taking action to close out their current positions due to the decline in prices, they are adding new positions in the hope of a breakout in the future. It can be seen that such actions could be fuel for a sharp price rally.

The Smart Money Has a Significant Long Bias

According to statistics from leading traders, there is a tendency for long bias among the smart money, where around 60% of them have a bullish outlook, compared to just 56.7% from the retail investors. Although the differences appear negligible, they reflect a notable disparity in terms of commitment between experienced traders and average investors.

Such a situation implies the activity of professional or upper-level traders who are building up their positions amid the consolidation stage. In the past, similar trends were always followed by growth in prices, because professionals always positioned themselves in advance before the onset of significant changes.

Moreover, the rather stable ratio of buyers vs. sellers confirms this assumption since controlled accumulation is a much more reliable process.

Key Resistance and Support Areas to Pay Attention To

In order for this scenario to be fulfilled, there should be an eventual break above the $0.008 resistance area, which will mark the beginning of the next uptrend leg towards the $0.009 area.

As for possible support levels, $0.0074 is critical to watch as any movement lower may lead to further losses for PENGU to the $0.006 level because of the potential stop loss order execution.