Glassnode: Approximately 6.26 Million BTC Have Public Keys Exposed to Quantum Computing Risks
Glassnode co-founder Rafael said that approximately 6.26 million $BTC , or 31.2% of the total supply, are held in addresses with publicly exposed public keys, up from 24.8% in early 2021. Of this amount, around 4.33 million BTC are exposed due to address reuse, while another 1.94 million BTC are directly exposed through script types such as P2PK and Taproot.
Among BTC held by exchanges, approximately 1.79 million BTC have exposed public keys, accounting for 57% of identified exchange holdings, up from 55% in May this year. Rafael stressed that the statistics only reflect on-chain public-key exposure, do not indicate that the assets have been attacked, and do not constitute an assessment of the security of exchanges or custodians.
If you're trading altcoins, keep an eye on USDT Dominance (USDT.D). It can help us understand whether capital is favoring stablecoins or taking on more risk in the crypto market.
Here's how I'm reading the chart 👇
🔹 1. Around 6.225% — VERY BULLISH FOR CRYPTO
If USDT.D drops toward 6.225%, it suggests that capital may be rotating out of stablecoins and into risk assets. This could create favorable conditions for BTC and altcoins, potentially opening the door for a stronger market recovery.
🔹 2. Between 6.225% and 6.665% — NEUTRAL / RANGE-BOUND
This is the zone where patience matters.
Expect possible sideways price action, short-term rotations, and opportunities around individual narratives. Instead of blindly buying every dip, focus on strong setups, key support and resistance levels, and well-defined risk.
This environment can favor selective scalping rather than expecting every altcoin to pump together.
🔹 3. Above 6.65% — BE CAREFUL
A sustained move above 6.65% could indicate increasing demand for stablecoins and a more defensive market stance.
That could put pressure on BTC and altcoins, especially weaker assets. If USDT.D breaks above this zone and holds, I would reassess bullish positions rather than blindly chasing the market.
WHAT THE CURRENT CHART TELLS US
USDT.D recently bounced sharply from around 6.22% and has recovered to approximately 6.657%. It's now testing the upper boundary of the highlighted resistance zone near 6.65%–6.89%.
This is a critical decision area.
• Rejection from this zone could favor a decline in USDT.D, potentially supporting a crypto market recovery.
• A breakout and sustained move above the zone could signal further defensive positioning and increased downside risk for crypto.
🎯 MY STRATEGY: Keep USDT.D on your benchmark list. Watch the reaction at resistance, wait for confirmation, and manage risk accordingly.
What do you think — will USDT.D reject this resistance, or are we heading higher?
The CMC Altcoin Season Index is currently around 61, still below its 75 threshold.
Meanwhile, Glassnode’s Altcoin Cycle Signal is already at 81.25, which sits in its own altseason zone.
So which one is right?
Actually, both can be.
They measure different things and use different methodologies.
This is why I don’t think one indicator should be enough to declare a new altseason.
Right now, the bigger picture looks like this:
🔹 Altcoins are gaining momentum 🔹 Altcoin market cap is recovering 🔹 BTC dominance is no longer pushing aggressively higher 🔹 But broad altcoin outperformance still needs more confirmation
The market is showing signs of rotation — not yet a confirmed altseason.
Sometimes the most important word in crypto is simply: “Not yet.”
Altseason is getting closer… but we’re not there yet.
The CMC Altcoin Season Index has climbed to 61/100, its highest level of the year.
That sounds exciting, but remember: 75 is the level needed to officially enter Altcoin Season.
What makes this interesting is that altcoins are clearly gaining strength: • Altcoin market cap is back around $1.19T • BTC dominance is struggling around the 60% area • Glassnode’s Altcoin Cycle Signal is already showing an “altseason” reading
So the market is improving, but confirmation is still missing.
For me, the important question isn’t “Has altseason started?”
It’s Are we seeing a real rotation into altcoins, or are alts simply moving higher with the overall crypto market?
If you want to understand the next phase of the altcoin market, watch BTC dominance.
BTC dominance has been sitting around the 60% area, after recently getting rejected below that level.
Why does this matter?
When Bitcoin dominates the market, capital tends to stay concentrated in BTC.
But if BTC dominance starts falling consistently while the total crypto market continues to grow, it could indicate that capital is rotating into altcoins.
The opposite is also important.
If BTC dominance reclaims and holds above 60%, it could suggest that Bitcoin is still attracting the majority of market liquidity.
So I’m watching two things together:
BTC dominance + altcoin market cap.
A sustained decline in dominance alongside rising altcoin market cap would be much stronger evidence of a broader rotation.
I m not here for a quick move, I m watching the bigger picture I believe patience is key when you have conviction in a project I will be holding $GRVT for the long run and letting the market play out No FOMO No panic Just patience & conviction