BTC, XRP, SOL, ADA Hold Flat as Google’s Quantum Breakthrough Rekindles Old Crypto Fears
Bitcoin hovered around the $109,000 mark during Thursday’s Asian session, maintaining its two-week trading range after earlier market liquidations. The crypto market showed little reaction to renewed concerns sparked by Google’s claim of achieving a “verifiable quantum advantage” with its new Willow chip a milestone that reignited discussions about blockchain security in a potential quantum era.
Despite the buzz, BTC prices remained stable, reflecting cautious sentiment among traders ahead of next week’s Federal Reserve meeting. Market participants appear focused on potential monetary policy signals that could influence risk assets, while the broader crypto market continues to consolidate. For now, Bitcoin’s resilience suggests investors are brushing off quantum computing headlines and waiting for clearer macroeconomic direction.
Market snapshot: BTC holds flat amid quantum computing fears
Bitcoin hovered around $109K with low intraday volatility; Ether traded near $3,850. Major altcoins, including solana, XRP and cardano, were mostly flat over 24 hours. The malaise follows an Oct. 10 washout that erased billions in leveraged positions and damped risk sentiment. October, typically a bullish month, is pacing for the slimmest gains since 2015.
“The market’s been balancing in this tight range… Either the bulls lose patience, or the bears run out of conviction.” Alex Kuptsikevich, FxPro.
Sentiment check
The Crypto Fear & Greed Index sat in “fear” (~25), reflecting caution after repeated fade-the-rally episodes. Traders describe a “sell-the-growth” tape where upticks are sold quickly as liquidity thins.
What Google actually announced
Google’s Quantum AI team said its Willow chip delivered the first verifiable quantum advantage, citing a new “Quantum Echoes” algorithm that outpaced classical methods by orders of magnitude. Independent and mainstream outlets noted the milestone while stressing practical applications remain years away.The Guardian+3blog.google+3blog.google+3
Why it didn’t budge crypto (yet)
Specialists and prior reporting emphasize that today’s quantum devices cannot break modern cryptography; cracking widely used schemes would require far larger, more error-corrected systems. That gap helps explain why prices barely reacted despite revived chatter about crypto security.
Macro overhang ahead of the Fed
With the FOMC meeting on Oct. 28–29, 2025, traders are reluctant to place big bets. Derivatives positioning and macro uncertainty keep spot ranges tight. A decisive break likely awaits either policy surprises or a narrative shift.
Why BTC holds flat amid quantum computing fears matters
Range-bound price action into key macro events often compresses volatility before larger directional moves. For crypto desks, the question is whether the next impulse comes from policy, flows, or a genuine tech-driven catalyst rather than speculative headlines.
Context & Analysis
Analysis: Quantum milestones reliably spark “crypto is broken” discourse. But experts note the distance between algorithmic demonstrations and code-breaking capability. Meanwhile, market structure thin liquidity, macro event risk better explains today’s flat tape than tech headlines alone.
Conclusion
Without a major macroeconomic shift or a clear crypto-specific catalyst, Bitcoin’s current trading range appears set to hold steady heading into the Federal Reserve’s Oct. 28–29 policy meeting. The market has settled into a wait-and-see mode, showing little urgency to break out in either direction.
For now, investor sentiment reflects indifference rather than fear, as traders balance caution with patience. Despite lingering uncertainties in both global markets and crypto headlines, Bitcoin’s stability highlights a broader sense of calm suggesting that only a significant policy move or unexpected event may shake the market from its current standstill.
FAQs
Q : What did Google announce about its Willow chip?
A : Google said Willow achieved a “verifiable quantum advantage” using a new algorithm, marking a step toward useful quantum computation.
Q : Does this mean Bitcoin’s cryptography is at risk now?
A : No. Current quantum devices can’t break modern cryptography, and experts believe practical threats remain years away.
Q : Why is Bitcoin range-bound despite big headlines?
A : Macro uncertainty and the upcoming FOMC meeting keep risk appetite muted; liquidity remains thin, and rallies are quickly sold.
Q : Where is sentiment now?
A : In “fear” territory, according to the Crypto Fear & Greed Index, showing cautious market positioning.
Q : Is October usually bullish for crypto?
A : Historically yes, but this October is shaping up to be the weakest since 2015.
Q : Will prices move on the Fed decision?
A : Volatility typically rises around FOMC outcomes, so a breakout from the current range is possible.
Q : How does this relate to security long-term?
A : Projects and custodians are already monitoring post-quantum cryptography standards to safeguard against future risks.
Facts
Event
Major crypto assets flat as Google’s Willow chip claim revives quantum-risk debateDate/Time
2025-10-23T12:00:00+05:00Entities
Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Cardano (ADA); Google Quantum AI; Federal Reserve (FOMC)Figures
BTC ≈ $109K; ETH ≈ $3.85K; XRP ≈ $2.41; ADA ≈ $0.64; Fear & Greed ≈ 25 (fear) (units: USD, index points) CoinDesk+2CoinMarketCap+2Quotes
“The market’s been balancing in this tight range…” Alex Kuptsikevich, FxPro. CoinDeskSources
CoinDesk market update; Google research blog; CoinMarketCap live price; Federal Reserve FOMC calendar. Federal Reserve+3CoinDesk+3blog.google+3