Could This Be Why Bitcoin (BTC) Price Hasn’t Been Spiking?

Bitcoin price has puzzled many observers over the past year. BTC broke into new territory in 2024, yet the follow-through never arrived. While other risk assets kept climbing, Bitcoin price stalled and slipped into a slower rhythm. That pause has raised questions about what changed beneath the surface, especially after a recent explanation from Ran Neuner, who argues the issue goes deeper than typical market cycles.

Bitcoin price did not lose momentum randomly. Ran Neuner points to December 2024 as a clear turning point for BTC. That month, crypto risk appetite stalled while other markets continued higher. The divergence stands out on the chart, showing capital hesitation rather than broad market weakness.

According to Ran Neuner, this type of behavior usually signals capital stepping away from tail risk. Bitcoin, despite its maturity, still sits firmly in that category for many institutions. BTC price stopped accelerating at the same time uncertainty entered the conversation, suggesting caution rather than exhaustion drove the slowdown.

Bitcoin And BTC Price Face A New Question Around Quantum Computing

The core issue raised by Ran Neuner centers on quantum computing. He describes it as the biggest unanswered question in crypto today. This concern is not framed as a distant theory or speculative narrative. Quantum computing represents a real security unknown that institutions cannot yet model or hedge effectively.

Bitcoin relies on cryptographic systems designed long before quantum computing became a realistic discussion. Until there is clarity on how those systems adapt, Bitcoin price carries a risk that remains unresolved. Ran Neuner explains that big capital tends to pause when facing questions without clear answers, even if the risk timeline remains uncertain.

BTC Price Divergence Coincided With Google Willow Chip Reveal

Ran Neuner highlights a specific moment that sharpened institutional awareness. In December 2024, Google unveiled its Willow Chip, drawing renewed attention to the pace of quantum computing development. Around that same period, crypto risk appetite stalled while traditional markets pushed forward.

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The timing matters. Bitcoin price did not collapse, yet BTC stopped attracting aggressive inflows. That pattern suggests hesitation rather than panic. Capital did not rush out. Capital simply stopped pressing higher.

Bitcoin Losing Ground In Institutional Portfolio Models

Another signal reinforcing this view came earlier in 2025. Christopher Wood, a widely followed institutional strategist, removed Bitcoin entirely from his model portfolio. This was not a reduction or rebalance. BTC was replaced fully with Gold.

Ran Neuner stresses that the decision was not driven by macro conditions. The reasoning centered on long term cryptographic security concerns tied to quantum computing. When institutions remove Bitcoin from strategic models, BTC price momentum naturally loses support, even if retail interest remains steady.

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Bitcoin price today reflects a market caught between confidence and caution. BTC has proven resilience, holding above key structural levels despite reduced momentum. At the same time, unresolved questions keep large pools of capital from fully committing.

Ran Neuner argues that until the quantum computing issue is addressed with credible solutions, Bitcoin price may continue moving sideways rather than surging. This does not signal weakness. It signals patience.

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