Crypto Quiz! 5 winners will get $30 USDT each! How to participate: 1⃣ Follow @Four_FORM_ 2⃣ ❤ + RT 3⃣ Drop your answer & tag 3 friends Question: An asset rises 50% and then falls 50%. Is the final price equal to the original price? A. Yes B. No C. Depends D. Only on weekends GOOD LUCK! #Four# #FourCommunity# #Giveaway#

BITCOIN RAILS #59#: Post-Quantum Bitcoin Signatures (+ their tradeoffs) | with BIP 360 co-author @Ethan_Heilman and @Blockstream Head of Research @n1ckler 🔗 YOUTUBE: 🌿 SPOTIFY: According to BIP 360 co-author Ethan Heilman, Bitcoin needs a minimum of two soft forks to become quantum resistant: P2MR (or an output type that can safely execute PQ signatures) + a post-quantum checksig (signature scheme). Ethan and the BIP 360 team (including myself and @cryptoquick) introduced the P2MR part via a BIP 360 update late last year—but the question remains, what’s the most appropriate PQ signature scheme for Bitcoin? They all have substantive tradeoffs, but hash-based signatures seem to be leading technical discourse—likely due to recent optimizations by @n1ckler and the broader @Blockstream research team. It was an honor to sit down with both of these men - arguably the two most influential and productive cryptographers in Bitcoin quantum mitigation right now - for an in-depth review of the leading PQ signature schemes and a temperature check on Bitcoin’s post-quantum planning process. TBH, if you want to skip the noise and jump straight to the signal on quantum, this is the interview to watch. In this episode, we discuss: - What needs to happen at the soft fork, infra, and mitigation levels to fully quantum-harden Bitcoin - Recent updates to BIP 360 + breakdown of the leading hash-based signatures schemes for Bitcoin (SHRINCS + SHRIMPS) - Why we may actually get consensus around a stateful scheme for Bitcoin - Comparisons of hash-based signatures vs Lattice and Isogeny-based schemes - Assessing the risks of both waiting too long and acting too fast (and why quantum is a better threat to be facing than a potential classical attack) This episode of Bitcoin Rails is brought to you by my NEW sponsors: - LayerTwo Labs @LayerTwoLabs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) - Hashi on @SuiNetwork — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity - BitBox @BitBoxSwiss — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 Intro 02:18 Ethan’s Quantum Wakeup 05:18 How Blockstream Enters Post Quantum 09:25 BIP 360 Explained 12:11 How Bitcoin Transitions to PQ 17:35 Choosing Post Quantum Signatures 23:20 How Blockstream Created SHRINCS 27:22 Signature Budgets Importance Explained 41:13 What are SHRIMPS? 44:51 SHRIMPS vs SHRINCS 47:48 Why SLH-DSA Alone Won’t Cut It 49:24 Is a SHRIMPS + SHRINCS BIP Coming? 51:51 Blockstream’s Big Plans for Liquid 59:04 Quantum Readiness Roadmap 01:02:22 Importance of a PQ Recovery Plan 01:05:35 How Long Would a PQ Migration Take 01:11:17 Quantum Watchlist Recommendations

CryptoQuant said $BTC closed above its 365-day moving average at $80.5K for the first time since March 2023, confirming a new bull market. The firm said Bitcoin is now trading near $86K and that the same 365-day MA called the 2019 and 2023 bull markets as well as the late-2021 and November 2025 bear markets. At the same time, CryptoQuant founder Ki Young Ju said he expects this cycle to deliver 3-5x rather than another 10x+ parabolic rally, followed by a milder bear market. CryptoQuant said on-chain indicators flipped to the early stages of a bull market in mid-August and that Bitcoin has already cleared the $76K-$81K supply wall where long-term holders and 7+ year-old OG coins sold in large volume this year. The firm put next resistance at $88K-$90K, coinciding with the upper band of trader on-chain realized price. Ki Young Ju said MVRV never fell below 1 this cycle, meaning holders as a whole never went underwater. He also said realized cap is rising, OG whales have stopped selling, futures whales built large longs near the bottom, and the PnL Index’s 365-day moving average is now forming a meaningful inflection. He argued a larger market and growing institutional ownership are dampening both the explosive upside and the 80% crashes of earlier cycles. Giving up the 10x parabola also means giving up the 80% crash, Ki Young Ju said, the trade-off that invites long-horizon capital instead of hot money.

CryptoQuant Analyst: Bitcoin Sees Sharpest Deleveraging Phase Since 2023 CryptoQuant analyst Darkfost said Bitcoin has recently experienced its sharpest deleveraging phase since 2023, with Binance’s open interest briefly falling below its 180-day average. Binance’s current open interest stands at approximately $9.6 billion, above the 180-day average of $8.3 billion and accounting for about 37% of Bitcoin’s total open interest. The current cycle has seen one of the largest liquidation events in Bitcoin’s history. Darkfost said traders appear to have returned and are fueling BTC’s rebound, while warning that excessive leverage could trigger another severe deleveraging episode.

CryptoQuant Analyst: Bitcoin Rally Fueled by Binance Short Squeeze, Pullback Risk Remains CryptoQuant analyst BorisD said Bitcoin’s rally this week was driven primarily by concentrated short liquidations in Binance futures rather than spot buying. Binance’s Short Squeeze indicator rose to 6.94, its highest level since November 2024. He said much of the move was fueled by forced buying as short positions were closed, warning that Bitcoin could face a pullback if spot demand fails to take over once the squeeze loses momentum.

CryptoQuant Analyst: Binance Retail Bitcoin Inflows Hit Record Low Near 329 BTC a Day CryptoQuant analyst Darkfost @Darkfost_Coc said retail BTC inflows to Binance from wallets holding less than 1 BTC have fallen to the lowest level since the exchange was founded, averaging about 329 BTC per day, far below the 2021 bull-market peak of about 2,690 BTC per day, or roughly USD 161.7 million. Darkfost said this cycle has not seen a traditional retail comeback, as some retail investors may have shifted to other assets, gained indirect exposure through spot Bitcoin ETFs, or become longer-term holders.

The CryptoQuant Bull Score Index just dropped from a score of 80 to 60 within a few days. The regime has deteriorated slightly but remains in a bull regime as long as the score stays >60. BTC needs the overall situation to improve further, particularly on the demand side.

📊 MARKET: CryptoQuant's Axel Adler says $BTC closed at $80,500 yesterday, a new 30-day low, after bouncing off its 365-day moving average. He says tight ranges like this usually end with a sharp move.