BEARISH 📉 : NYDIG dismisses quantum fears as cause for Bitcoin decline

NYDIG's research suggests that fears of quantum computing do not account for Bitcoin's recent price decline. Key points include:

Search trends for "quantum computing bitcoin" increased, but these coincided with Bitcoin reaching new highs, not signaling a sell-off.
Bitcoin showed positive correlation with quantum computing stocks like IONQ, QBTS, RGTI, and QUBT. This indicates a shared market driver rather than quantum-specific concerns.
The broader market repricing risk across long-duration, expectation-driven assets is a more plausible explanation for Bitcoin's downturn.
Liquidity regimes affect both Bitcoin and quantum stocks, as they are seen as long-duration bets heavily influenced by risk appetite shifts.
Divergence in derivatives markets shows US institutional desks remain more optimistic, while offshore traders exhibit caution, reducing leveraged long positions.

At present, Bitcoin trades at $66,886.

Bitcoin price chart