Bitcoin’s Dip Sparks Quantum Computing Debate, but Analysts Point to Market Pressure
Bitcoin’s recent decline has reignited discussions about quantum computing risks, though analysts say traditional market dynamics are the real driver.
On Thursday, gold surged 1.7% to a record $4,930 an ounce, and silver jumped 3.7% to $96, while Bitcoin slipped just above $89,000—roughly 30% below its early-October peak. Since Trump’s November 2024 election win, Bitcoin is down 2.6%, versus gains of 205% for silver, 83% for gold, 24% for the Nasdaq, and 17.6% for the S&P 500.
Castle Island Ventures partner Nic Carter suggested Bitcoin’s underperformance is tied to quantum computing, calling it “the only story that matters this year.”
Other observers disagree. Onchain analyst @Checkmatey pointed to supply and HODLer sell pressure as the main driver, while investor Vijay Boyapati cited large Bitcoin unlocks by whales.
Quantum computing could theoretically threaten Bitcoin’s cryptography, but practical machines remain decades away. Developers note Bitcoin Improvement Proposal 360, which outlines a gradual migration to quantum-resistant addresses if needed.
Even traditional finance figures like Jefferies strategist Christopher Wood recognize the long-term risk—but analysts say it doesn’t explain short-term price moves.
