Bitcoin supporters and analysts this week disputed claims that recent advances in quantum computing are the main reason Bitcoin’s price has weakened, arguing heavy selling by long-term holders is more to blame. Glassnode lead analyst James Check said in an X post that linking price moves to quantum fear “is akin to blaming market manipulation for red candles, and declining exchange balances for green ones.”
Check added that the market saw substantial sell-side flows from HODLers in 2025. He warned those flows would have overwhelmed prior bull markets, and then some.
Some traditional finance executives have voiced quantum-related concerns. Jefferies strategist Christopher Wood removed Bitcoin from his “Greed & Fear” model last week, citing those advances.
Views among crypto figures diverge sharply. Vijay Boyapati wrote he was skeptical that quantum fears explain recent price action in an X post. By contrast, Nic Carter said in an X post that Bitcoin’s underperformance is “due to quantum” and called it “the only story that matters this year.”
Jamie Coutts also commented on market psychology in an X post, saying “quantum risk doesn’t move with price, but the gap does.” Social accounts such as Smiffy Big Coin have amplified the debate.
Bitcoin finished 2025 about 6.3% lower, sliding from roughly $93,400 to $87,500 and peaking above $126,000 in October. The coin trades near $89,500, according to CoinMarketCap.
