Asia Morning Briefing: Crypto Sector Lacks Readiness for Quantum Threat, Analyst Warns

PLUS: Bitcoin Shows Increased Correlation with Japanese Government Bonds

Updated: June 3, 2025 2:33 AM

Key Highlights:

Bitcoin increased by 0.9%, reaching $106,402.39 amidst ETF outflows and geopolitical tensions while correlating with Japanese bond yields.
Meta’s shareholders have largely dismissed a proposal to allocate part of their cash reserves into Bitcoin, garnering just 0.08% of the votes.
Crypto lobbyists are prompting U.S. senators to prioritize the GENIUS Act for stablecoin regulation amid diversions from unrelated issues.

Good Morning, Asia! Here’s the latest in the markets:

Bitcoin ($106,402.39) remained resilient around $106,402.39 this morning, marking a 0.9% rise following a drop over the weekend linked to significant ETF withdrawals and political uncertainties. This surge comes after a notable decrease from $105,987 to $103,748 following notable trading activity and $616 million in ETF outflows.

Analysts, including macro strategist Weston Nakamura, are observing Bitcoin’s growing unusual correlation with Japan’s 30-year government bond yields, indicating a shift in global macroeconomic dynamics.

As market volatility persists, Bitcoin tests significant support levels close to $104,300 reflecting investor caution.

Quantum Threat Preparation is Urgently Needed

Rick Maeda from Presto Research has cautioned that the crypto industry remains unprepared for the ramifications of quantum computing. He posits that without proactive measures to develop quantum-resistant technologies, cryptocurrency systems will be at risk. He emphasized,

“Crypto is underprepared. The biggest risk is just waiting too long.”

Translation:

“Crypto is underprepared. The biggest risk is just waiting too long.”

Additionally, current quantum technologies do not possess the capability to compromise existing systems yet; Maeda stresses the importance of systematic preparation before these threats become real.

Market Highlights

BTC: Bitcoin’s rebound to $106,402.39 marks a slight recovery.
ETH: Ethereum rises up to $2,539.04, showing resilience.
Gold: Surged over 2% to $3,371.40, indicating safe-haven demand.
Equities: Japan’s Nikkei 225 increased by 0.36% against the backdrop of advancing markets.
U.S. stocks, including the S&P 500, experienced a small increase as trade tensions recalibrate.