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Charles Hoskinson, founder of Cardano (ADA), has issued a critical warning regarding Bitcoin (BTC). He stated that Bitcoin's most significant upcoming challenge will come from the advancement of quantum computing technology. Hoskinson argued that Bitcoin's governance model makes it difficult to implement major network upgrades, and if the network fails to adapt in time, it could lose its position as the world's leading cryptocurrency. In contrast, Hoskinson positioned Cardano as Bitcoin's "spiritual successor," designed to address technical shortcomings while preserving Bitcoin's core philosophy. He emphasized Cardano's on-chain governance system as a key advantage, claiming it allows the ADA community to vote and implement necessary protocol changes—such as quantum-resistant cryptography—more swiftly and cohesively. This adaptability, he suggests, could allow Cardano to better navigate future technological threats and potentially gain a long-term competitive edge.

Elon Musk Predicts "Money Will Be Irrelevant" by 2036, Potentially Reshaping Bitcoin's Future In a recent interview with The Economist, billionaire Elon Musk, CEO of SpaceX and Tesla, made a startling prediction: money will become "irrelevant" within a decade as the world transitions to a state of "unbelievable abundance." He argues that if robots and AI can provide goods and services exceeding all human consumption, the purpose of money would vanish. This prediction coincides with a critical juncture for Bitcoin. While the cryptocurrency has been trading sideways and below its all-time highs, it is approaching what some see as a major turning point. Musk's views are closely watched due to his past statements equating "energy" with true currency—a concept that resonates with Bitcoin proponents, as Bitcoin's security model is deeply tied to energy-intensive mining. His companies, SpaceX and Tesla, collectively hold nearly $2 billion worth of Bitcoin. Although Musk's public enthusiasm for crypto has moderated since its peak, he maintains support for Bitcoin and his favored Dogecoin. He has criticized government-issued fiat currencies as "hopeless" and suggested a preference for Bitcoin. His latest prophecy, envisioning a post-scarcity future driven by AI and robotics, refocuses attention on Bitcoin's potential role as a value anchor in a world where traditional money may lose its meaning.

US-listed spot Bitcoin ETFs experienced net outflows of approximately $225.2 million on Thursday, ending a seven-session inflow streak that had brought in nearly $1 billion. Despite the daily outflow, the funds still saw net inflows of about $274 million for the week as of Thursday. The shift coincided with Bitcoin's price briefly falling below $65,000 amid a broader market decline following renewed US-Iran tensions. Market sentiment also weakened, with the Crypto Fear & Greed Index dropping further into "fear" territory. In contrast, spot Ether ETFs continued their inflow streak, attracting a net $26.3 million for their fifth consecutive day of positive flows.

The rapid advancement of quantum computing poses a serious threat not only to cryptocurrencies but to the entire encryption system, including banking. However, experts warn that the cryptocurrency market might be the first sector to suffer from this transformation. As predictions of a 'Q-Day' approach, the slow governance processes of cryptocurrencies, rather than their cryptography, could become the biggest obstacle to defending against quantum attacks. Quantum Xchange CEO Eddy Zervigon has compared cryptocurrencies to "canaries in the coal mine," stating that the first successful quantum-powered cyberattack is likely to target decentralized blockchain networks. While a cryptographically relevant quantum computer capable of breaking the elliptic curve cryptography underlying Bitcoin's signatures and banking security does not yet exist, work by giants like Microsoft, IBM, and Google suggests the threat is nearer than previously thought. The industry consensus estimates such a computer could emerge around 2029. Supporting this view, recent Google research indicates the number of physical qubits needed to break the cryptographic systems protecting Bitcoin and Ethereum has decreased by about 20 times compared to prior estimates, highlighting the accelerated danger. Zervigon concludes that Bitcoin's greatest risk lies not in its current cryptographic system, but in the slow pace of implementing major network upgrades.

A critical week has begun for Bitcoin and altcoins as markets await the Fed's July decision. While the Fed is widely expected to keep rates unchanged, Chairman Jerome Powell's remarks are anticipated to significantly impact cryptocurrencies. In this climate, BTC options traders have notably reduced their short-hedging positions ahead of the Fed announcement. Analysts at Glassnode observed that the put-call ratio, which was 0.76 at the end of June indicating downside protection, has dropped sharply to approximately 0.52. This plunge suggests investors are scaling back on insurance against a potential correction and shifting their focus back to bullish strategies. Data shows large investors are actively accumulating call options with a $70,000 strike price, reinforcing market expectations for a short-term upward price move for Bitcoin. However, analysts warn that if the Fed signals a different policy path than markets anticipate, Bitcoin's volatility could surge rapidly due to the reduced protective positioning.