Bitcoiners Dismiss Quantum Computing as Main Cause of Price Drop

TLDR

• Bitcoiners argue that quantum computing is not the main cause of Bitcoin’s recent price decline.
• Glassnode analyst James Check attributes the price drop to heavy selling by long-term Bitcoin holders.
• Some traditional finance executives have voiced concerns about quantum computing’s potential impact on Bitcoin.
• Bitcoin author Vijay Boyapati is skeptical about linking Bitcoin’s price action to quantum computing.
• Castle Island Ventures’ Nic Carter believes that quantum computing is the primary factor behind Bitcoin’s underperformance.

Bitcoin supporters have pushed back against claims that quantum computing is the primary factor affecting Bitcoin’s recent price downturn. Some have argued that the concerns around quantum computing’s potential impact on Bitcoin’s cryptographic security are overblown. According to Glassnode analyst James Check, the price drop is more closely tied to heavy selling from long-term Bitcoin holders rather than technological threats.

Bitcoin Price Driven by Seller Activity, Not Quantum Computing

James Check from Glassnode took to social media to dismiss the connection between Bitcoin’s price and fears of quantum computing. In a post on X, Check stated that linking Bitcoin’s performance to quantum computing fears is “akin to blaming market manipulation for red candles.” He emphasized that the downturn in Bitcoin’s price was driven by substantial sell-offs from holders who had kept their coins for years. These actions, he argued, were far more influential than any concerns about the impact of quantum computing.

Check pointed out that, despite recent quantum advancements, Bitcoin’s price has experienced consistent weakness due to this sell-side pressure. In fact, he noted that the recent selling activity from long-term holders in 2025 was enough to crash Bitcoin prices multiple times over. Thus, he claims the fears around quantum computing are not a direct cause of the cryptocurrency’s performance.

Quantum computing has sparked debate in the cryptocurrency world, especially concerning the potential threats it poses to Bitcoin’s encryption methods. Some industry leaders, including Jefferies strategist Christopher Wood, have recently voiced concerns that the advancements in quantum computing could undermine Bitcoin’s security. Wood removed Bitcoin from his “Greed & Fear” model portfolio due to these worries, citing the risks quantum computing could pose in the future.

On the other hand, Bitcoin author Vijay Boyapati expressed skepticism about quantum computing’s role in Bitcoin’s price action. He pointed out that despite some investment notes referencing quantum computing, there is no clear evidence to link the technology directly to Bitcoin’s market performance. Boyapati and other Bitcoin proponents continue to downplay the immediate threat posed by quantum advancements.

Bitcoiners Divided on the Impact of Quantum Computing

While some Bitcoin supporters continue to downplay the threat, others have become more convinced that quantum computing is influencing market sentiment. Nic Carter, a partner at Castle Island Ventures, argued that Bitcoin’s recent underperformance is directly tied to quantum computing risks. Carter believes the market is reacting to these concerns, and it is the “only story that matters” for Bitcoin’s price performance this year.

Despite these differing views, Real Vision’s Jamie Coutts suggested that quantum computing’s risks might not correlate directly with Bitcoin’s price changes. Coutts explained that as Bitcoin’s price rises, confidence in its security may cause developers to feel less pressure to prepare for quantum computing challenges.

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