Emre Yumlu 
Bitcoin has just broken a long-standing trend against gold that had remained intact for nearly 12 years. This technical level survived multiple bull markets, sharp corrections, regulatory crackdowns, and even the introduction of ETFs. Its recent breakdown, however, is being interpreted by some analysts as more than a routine chart development. A deeper structural concern is entering the conversation: quantum computing risk.
Historic Bitcoin (BTC) Breakdown Against Gold
For years, Bitcoin’s performance relative to gold has been viewed as a macro-level confidence indicator. The narrative of Bitcoin as “digital gold” relied in part on this steady long-term trend. Losing that structure may suggest that the market is reassessing how it values Bitcoin as a store of value.
On-chain analyst Willy Woo argues that the timing of the breakdown coincides with growing awareness of quantum-related vulnerabilities. Bitcoin’s security model relies on ECDSA cryptography. In theory, a sufficiently advanced quantum computer running Shor’s algorithm could derive private keys from public keys. While this is not currently feasible, projections suggest it could become a realistic threat within 5 to 15 years.
The 4 Million Bitcoin Question
Fund manager Justin Bons suggests that markets may already be starting to price in this long-term technological risk. Estimates indicate that roughly 4 million older or lost BTC could be exposed in a quantum scenario. If those coins were suddenly accessible, the resulting supply shock would not be reflected in existing valuation frameworks.
This introduces a new layer of uncertainty beyond macroeconomic trends or ETF inflows. Instead of liquidity or monetary policy, the concern centers on a foundational technological vulnerability.
Key Price Levels and Ongoing Uncertainty
Bitcoin is currently trading near $68,000 but struggling to generate sustained upward momentum. The $66,500 level stands out as critical support. A breakdown below that area could open the path toward the $55,000 range.
Although developers are discussing quantum-resistant upgrades, no definitive roadmap has been finalized. Until a standardized solution is implemented across the network, the quantum narrative may continue to cap long-term valuation expectations.
This content is not investment advice. Cryptocurrency markets involve significant risk, and individuals should conduct their own research before making financial decisions.
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