BTC Surges Past $78k as Trump Extends Iran Ceasefire; Quantum PoS Warning Hits ETH/SOL

Bitcoin (BTC) rallied above $78,000 and hit an 11-week high after President Trump said the Iran ceasefire would be extended indefinitely. By Wednesday morning, BTC was up about +2.2% on the day and around +5% on the week, while roughly $240M of leveraged short positions were liquidated. Ether (ETH) rose ~3% to around $2,390, supported by strong ETF inflows (~$43M). On-chain indicators also turned more constructive, with Bitcoin’s Net Unrealized Profit/Loss metric returning positive after months. The move comes alongside US policy and market-structure developments. Trump-backed Fed nominee Kevin Warsh faced a Senate Banking Committee hearing covering crypto holdings and Fed independence; markets reacted mildly risk-off for crypto equities earlier. Coinbase’s Independent Advisory Board published a quantum computing risk report warning that proof-of-stake (PoS) consensus mechanisms—especially on Ethereum (ETH) and Solana (SOL)—may face “harvest now, decrypt later” threats. The report argues that quantum advances could force redesigns beyond wallet upgrades. Separately, Kalshi and Polymarket announced plans to launch crypto-related perpetual futures. New York’s Attorney General also sued Coinbase and Gemini over prediction-market offerings, arguing they violate state gambling laws.