Bitcoin’s weakness versus gold and equities puts quantum computing fears back in focus

Bitcoin's recent price weakness, evidenced by its 2.6% drop since Trump's 2024 election win while gold surged 83% and the Nasdaq gained 24%, has brought fears about quantum computing's threat to its cryptography back into focus. High-profile investor Nic Carter suggested this quantum risk is the primary driver of Bitcoin's underperformance. However, on-chain analysts and developers largely dismiss this as the cause for short-term price action. They argue the weakness is due to conventional factors like selling pressure from long-term holders (HODLers) and the unlocking of supply once whales hit a certain price point, like $100k. Developers maintain that practical quantum computers capable of breaking Bitcoin's security are decades away, and mitigation plans, like BIP 360 for quantum-resistant addresses, are already outlined. While some traditional finance figures, like Jefferies strategist Christopher Wood, have cited quantum risk as a reason to reduce exposure, the consensus among the technical community is that the timeline for a quantum upgrade is measured in years, not market cycles, making it an unlikely explanation for current price behavior.

(Source：CoinDesk)