Key facts: BTC SOPR↑; miners stressed; weak 2024; Saylor buys; dominance↑; $68K risk; $500K–$1M back; quantum not imminent

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BTCUSD on-chain: short-term holder SOPR near/above 1, indicating recent buyers taking profits; SOPR hasn't stayed below 1. Long/short positioning mixed, signaling trader indecision.
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Bitcoin miner financial health 7-day SMA at 27.7%, above the 20% historical distress threshold, signaling continued miner stress per CryptoQuant analyst MorenoDV.
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Galaxy analyst says 2024 Bitcoin cycle is much weaker than 2012/2016/2020, citing much lower upside and 30‑day volatility near 1.75%, well under prior cycle peaks.
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Michael Saylor hinted at more BTC buys after recent multi-$100M purchases; BTC traded near $75,500 while Bitcoin dominance broke above a key resistance level, noted alongside institutional buying.
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BTCUSD forms an ascending channel inside a bearish flag on the 3-day chart, trading below the 50- and 100-day MAs and Supertrend, with a downside reference near $68,000 if it breaks.
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Blockstream CEO Adam Back said BTCUSD could hit $500k–$1M in two years, citing demand from spot ETFs, corporate treasuries, institutional flows, and the upcoming halving.
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Adam Back said Google's 2029 quantum claim is cloud quantum progress, not an immediate threat to Bitcoin keys; breaking keys needs much larger, error‑corrected quantum machines beyond this decade.
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source: https://www.tradingview.com/news/tradingview:00435ba5b93e9:0-key-facts-btc-sopr-miners-stressed-weak-2024-saylor-buys-dominance-68k-risk-500k-1m-back-quantum-not-imminent/