Bitcoin Price Prediction: El Salvador Reshuffles Bitcoin Holdings Due to Quantum Threats – Is BTC at Risk?

El Salvador has moved its national Bitcoin reserve into multiple new wallets, citing quantum computing risks. The move was announced by the country’s National Bitcoin Office after months of IMF pressure to scale back the country’s crypto activity.

Officials said that storing the entire reserve (6,286 BTC worth around $686 million) in a single address left the funds vulnerable once public keys were exposed on-chain. By splitting the assets into addresses of up to 500 BTC each, the government aims to limit exposure to potential quantum-based attacks on Bitcoin’s cryptography.

President Nayib Bukele, who pledged in 2022 to buy one Bitcoin daily, has faced criticism from international bodies but remains committed to growing the nation’s holdings. A public dashboard now tracks transactions to increase transparency, but officials said multiple smaller addresses reduce the risk of a catastrophic loss in case of a quantum breakthrough.

IMF Pressures and Policy Shifts

The reshuffle also comes as the IMF is scrutinizing the country. In July, the IMF reiterated that El Salvador had agreed not to voluntarily accumulate Bitcoin as a condition of loan disbursements.

While the IMF said the government was “moving funds between internal wallets”, Bukele’s office maintains the policy of buying 1 BTC per day is still in place. This shows the tension between El Salvador’s pro-Bitcoin stance and its need for external financing to stabilize the economy.

Despite Bitcoin being legal tender since 2021, surveys show most Salvadorans don’t use it for transactions, they prefer the US dollar. But Bukele’s popularity at home is strong, mainly due to security reforms and his tough anti-crime policies, not the crypto experiment.

Bitcoin Technical Outlook and Price Forecast

Bitcoin price prediction seems bearish as BTC is at $109,887, consolidating inside a descending channel since mid-August.

The 50-day EMA at $110,153 and the 200-day EMA at $112,792 are the ceiling, buyers can’t sustain above these levels. Support is at $108,865, then $107,300 and $105,451.

Candlestick activity is indecisive, with Dojis and small-bodied candles near mid-channel resistance. RSI is 53, MACD is flat, no strong directional move yet.

Two scenarios:

• Break above $112,000 and it’s off to $113,400 and $115,475, bearish channel reversal.
• Fail to break higher and BTC is down to $107,300 and $105,451.

For traders, short below $110,650, long only on a close above $112,000. Looking further ahead, long-term structure is still constructive, recovery to $130,000 once consolidation resolves.

El Salvador’s policy shift shows growing awareness of the tech risks, but the bigger question is: can Bitcoin survive quantum and global scrutiny?

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