Recent claims that Bitcoin's recent weakness is due to fears of quantum computers are resurfacing, causing market division. Famous investor Nick Carter argues that the risk of quantum computers is already influencing market behavior and considers it the most important story of the year. In reality, strategist Christopher Wood of Jefferies has removed Bitcoin from his portfolio and replaced it with gold, demonstrating that these concerns are becoming reality.

However, on-chain analysts see things from a different perspective. CheckOnChain's analysts pointed out that explaining price movements with quantum computer fears is akin to blaming market manipulation or exchange reserves. Actual movements are determined by supply and positioning, and especially at the $100k level, profit-taking by large holders better explains the current bearishness.

Looking at recent price trends reveals an interesting contrast. Gold hit an all-time high of $4,930 per ounce, and silver is trading at $96, continuing its bullish trend. U.S. stocks also rose similarly, with the Nasdaq up 24% and the S&P 500 up 17.6%. Meanwhile, Bitcoin is currently moving near $74,200, about 30% below its early October peak. Since Trump’s election, Bitcoin has fallen 2.6%, while gold has risen 83% and silver 205%, suggesting that asset allocation shifts are a bigger factor than fears of quantum computers.

The tech community’s view remains冷静. Most Bitcoin developers see quantum computer attacks as a manageable threat decades into the future. Adam Back, co-founder of Blockstream, explained that even in the worst-case scenario, immediate fund loss is unlikely, and proposals like BIP-360 for quantum-resistant upgrades are already in place. Considering that such upgrades could take years if needed, short-term price fluctuations are difficult to explain.

Looking at the current market structure, Bitcoin struggles to break through $76,000, and certain CEX perpetual contract funding rates have remained negative for 46 days, indicating a persistent bearish stance. Analysts argue that this is more directly explained by the strong U.S. stock market, gold preference, and profit-taking by whales, rather than fears of quantum computers. Ultimately, quantum computing remains a long-term technological discussion, and the current price weakness is more reasonably understood through traditional market dynamics.