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Bitcoin Updates: Cryptocurrency Markets Plunge Amid Rising Quantum Computing Concerns for Bitcoin

Bitcoin Updates: Cryptocurrency Markets Plunge Amid Rising Quantum Computing Concerns for Bitcoin

Bitget-RWA2025/11/19 18:04
By:Bitget-RWA

- Bitcoin fell below $90,000 on Nov. 18 amid political uncertainty and Vitalik Buterin’s quantum computing warnings, triggering a $610M sell-side pressure surge. - Technical indicators showed bearish momentum, with a double-top breakdown targeting $89,177 and RSI near oversold levels, while Buterin urged quantum-resistant upgrades by 2028. - Industry responses included accelerated post-quantum crypto solutions, yet short-term holders’ losses and macro risks threaten further declines below $90,000. - A pote

On November 18, Bitcoin’s value dipped below $90,000, intensifying a wave of selling fueled by political instability and a stark alert from

co-founder Vitalik Buterin regarding the dangers posed by quantum computing. During the session, BTC reached lows around $90,900, coinciding with a congressional investigation into Donald Trump and a broader downturn in U.S. stock markets. that short-term investors transferred 65,200 BTC to exchanges at a loss, suggesting widespread capitulation and introducing approximately $610 million in potential selling pressure.

Technical analysis highlighted the prevailing bearish trend. The 12-hour chart for Bitcoin revealed a completed double-top pattern, projecting a downside target close to $89,177. The RSI was at 35, hovering just above the oversold threshold, while the Bollinger Bands widened downward, supporting expectations of continued declines.

to reclaim the $99,000–$100,000 resistance—now acting as a ceiling—could extend the current slump.

The market’s vulnerability was heightened by Buterin’s caution that elliptic curve cryptography, which underpins the security of

and Ethereum, may be compromised by quantum computers as soon as 2028. Speaking at the Devconnect Buenos Aires event, Buterin stressed that the risk is no longer hypothetical, as advancements in quantum technology are surpassing expectations. “Elliptic curves are going to die,” he warned, to adopt quantum-resistant protocols within the next four years. His remarks heightened existing anxieties, leaving crypto investors to contend with both immediate price swings and looming existential threats .

Bitcoin Updates: Cryptocurrency Markets Plunge Amid Rising Quantum Computing Concerns for Bitcoin image 0
Buterin’s statements reverberated throughout the sector. Quantum computing expert Scott Aaronson echoed the urgency, noting that a robust quantum computer capable of running Shor’s algorithm—which can break ECC—might be developed before the 2028 U.S. presidential election. At the same time, have ramped up their efforts to create post-quantum cryptography, including quantum-proof hardware and lattice-based cryptographic methods.

Despite the prevailing pessimism, some market watchers identified possible triggers for a recovery.

, an indicator of whether the asset is undervalued or overvalued, dropped to its lowest level in 14 months, hinting that long-term holders may be accumulating. Should buyers emerge at these prices, Bitcoin could stabilize and attempt to revisit the $96,000–$100,000 range. On the other hand, it could target $88,000 or lower, especially if macroeconomic headwinds or further selling by short-term holders continue.

Traders are now closely watching how Bitcoin performs at the $90,000 support mark. Holding this level could spark a short-term bounce, while a breach would reinforce the negative outlook.

institutional ETF activity, regulatory developments, and broader economic indicators, all of which could influence market sentiment.

As the crypto sector faces both near-term volatility and the longer-term challenge of quantum threats, the upcoming weeks will be a crucial test of both price stability and the industry’s readiness for a post-quantum era.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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