Deep Dive
1. Halving Aftermath (Bearish Impact)
Overview: Qtum completed its second halving on Nov 30, reducing block rewards from 0.5 to 0.25 QTUM. While halvings typically curb inflation (annual supply growth now 0.25%), the event was widely telegraphed, with price rallying 50%+ in the 3 months prior (CoinDesk).
What this means: Traders often front-run scarcity narratives then take profits post-event. QTUM’s 90-day decline (-47%) suggests weak post-halving demand to offset sell pressure from miners/stakers adjusting to lower rewards.
Key watch: Whether the $1.40 swing low (current price: $1.43) holds as support.
2. Crypto Risk-Off Sentiment (Bearish Impact)
Overview: Global crypto market cap fell 1.31% (24h), with Bitcoin dominance rising to 58.67%. Fear-driven liquidations hit $646M in 24h (Coindesk), exacerbated by macro concerns (BoJ rate hike risks, China PMI weakness).
What this means: QTUM, as a mid-cap altcoin ($151M market cap), faces amplified selling in risk-off rotations. Its 24h turnover ratio (11.8%) indicates thin liquidity, magnifying downside moves.
3. Technical Weakness (Bearish Bias)
Overview: QTUM trades below all key EMAs (7-day: $1.51; 200-day: $2.13). The MACD histogram turned negative (-0.00119), signaling bearish momentum, while RSI 34.39 avoids oversold territory, leaving room for further declines.
What this means: Absent a catalyst, the path of least resistance remains down. A close below $1.40 (Nov 29 low) could target $1.30.
Conclusion
Qtum’s decline reflects profit-taking after its halving event, exacerbated by broad crypto risk aversion and deteriorating technicals. While the network’s upcoming Jan 2026 hard fork (Bitcoin Core 29.1 + Ethereum Pectra upgrades) offers long-term potential, short-term momentum favors bears.
Key watch: Can QTUM hold the $1.40–$1.43 zone, or will Bitcoin’s price action (testing $85k support) dictate another leg down?