Folks might want to listen to Mark Goodwin on the latest What Bitcoin Did. Powerful forces behind bitcoin, playing a long game of world domination, and winning. Then you see Trump's son stacking bitcoin and literally making it his job -- while most probably think he is crazy. It is still early. Sub-70k is a gift.
I dont think bitcoin's recent dip has anything to do with altcoins or quantum. They are excuses. The real issue is gold. It is sucking demand from bitcoin. The same way bitcoin stole demand from gold in its last run up. They are substitutes. Bitcoin may be transferable at the speed of light, etc, but gold is "big blue" and easier to explain. It is safe, and the world is scary. The pendulum will swing again. Bitcoin is still dematerializing gold, and is winning. Gold's run up proves the underlying thesis of sound money. All is good. But let us not fall into the trap of somehow thinking shit coins are substitutes, or anyone is truly worried about inability to address quantum if needed.
Bessent just weakened demand for the US dollar, the US' biggest export. Just like when Biden took Russia off SWIFT and froze dollar accounts. How did that work out?