Summary
- Bitcoin is holding near $64,700 Friday, barely changed over the last 24-hour period, while the broader CoinDesk 20 index is down 0.2% over the period.
- Brent crude has meanwhile moved to over $83 a barrel after Yemen’s Iran-linked Houthis attacked Saudi Arabia, further escalating tensions in the Middle East.
- Gold has meanwhile maintained its recovery, moving up 1.5% to now trade at $4,300 per ounce as investors move toward safety in the face of uncertainty.
Global Tensions Impact Bitcoin Price
Bitcoin is hovering near $64,700, with little change over the last 24 hours, as tensions in the Middle East escalate. The broader crypto market is also experiencing a slight downturn, with a 0.2% decrease. Investors are turning to safer assets like gold, which has seen a 1.5% increase to $4,300 per ounce, as they seek to mitigate potential losses.
The recent attack on Saudi Arabia by Yemen’s Iran-linked Houthis has led to a surge in Brent crude prices, reaching over $83 a barrel. This increase in oil prices could lead to higher inflation, which may negatively impact the economy. Elevated Treasury yields, currently at 4.67% for the 10-year note, are also a cause for concern, as they can limit expectations for near-term rate cuts and affect bitcoin and other risk assets.
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Derivatives positioning
- Long-short taker ratio: The crypto futures market’s long-short taker ratio has returned to neutral after leaning bullish on Thursday, suggesting traders may be adopting a more cautious stance ahead of the U.S. payrolls report.
- CC token leads OI growth: Canton Network’s CC token is down 13% in 24 hours, yet its futures open interest (OI) has surged over 5%. The combination is said to validate the downtrend, especially as the 24-hour OI-adjusted cumulative volume delta remains negative, indicating sellers are more aggressive by shorting futures via market orders rather than passive limit orders.
- Open Interest Movers: DOGE, XRP, and SUI are open interest gainers, while SHIB has seen a drop.
- CVD Indicator: The CVD indicator paints a bearish picture for the market, as most majors (excluding ADA, HBAR, and ETH) show negative CVD readings.
- Volatility Indexes: The BVIV index, representing BTC’s annualized 30-day implied volatility, remains near a long-held floor of 36%, showing little signs of stress despite the Clarity Act delay and the impending U.S. jobs report. The same holds true for ether’s volatility index (EVIV).
- Options Activity: In Deribit-listed options, puts (bearish bets) at the $60,000 and $62,000 strikes dominate the 24-hour volume rankings for BTC, while the $2,000 call is the most popular for ETH.
Token Talk
- Sui is adding quantum-resistant security to its accounts, integrating two post-quantum signature schemes approved by the U.S. standards body NIST, per The Block. The upgrade lets users optionally adopt quantum-safe keys derived from their existing recovery phrases, so nobody has to generate a new seed or move funds to a new address to be protected.
- The threat it’s guarding against is specific to crypto. In most systems an attacker has to break in before they can go after a key. Onchain, the public key is exposed permanently the moment an account transacts, which opens the door to “harvest-now, forge-later,” where attackers collect exposed keys today and crack them once quantum computers are capable enough to run Shor’s algorithm, the technique that could break the elliptic-curve cryptography securing most wallets. No quantum hardware is needed to start collecting.
- Sui is using two schemes for two risk levels. ML-DSA-65 covers everyday accounts at the protocol level, and the hash-based SLH-DSA-SHA2-128s runs inside Move smart contracts for high-value vaults. The two rest on different math, so a weakness in one doesn’t compromise the other. Sui went with a higher security tier after a July incident where an AI model halved the effective strength of a different post-quantum candidate, a reason to carry margin rather than pick the cheapest option.
- It’s a feature add, not a rebuild. Sui says it was built for “cryptographic agility,” meaning new signature schemes slot in without touching consensus or existing balances, so this ships as a routine protocol update. That contrasts with bitcoin and ethereum, where quantum-proofing is a heavier lift, and lands the same month Strategy and BlackRock formed a consortium to prepare bitcoin for the same threat. SUI traded around [X], per CoinDesk data.
