Bitcoin News Today: Crypto Markets Capitulate as Quantum Threats Loom Over Bitcoin

Bitcoin's price fell below $90,000 on Nov. 18, intensifying a sell-off driven by political uncertainty and a stark warning from Ethereum co-founder Vitalik Buterin about quantum computing risks. The drop, which saw BTC hit intraday lows near $90,900, coincided with a congressional probe into Donald Trump and a broader selloff in U.S. equities. On-chain data revealed short-term holders moved 65,200 BTC to exchanges at a loss, signaling capitulation and adding roughly $610 million in potential sell-side pressure.

Technical indicators underscored the bearish momentum. Bitcoin's price structure on the 12-hour chart showed a completed double-top breakdown, with a projected target near $89,177. The RSI hovered at 35, just above oversold territory, while Bollinger Bands expanded downward, reinforcing the likelihood of further declines. Analysts noted that Bitcoin's inability to reclaim the $99,000–$100,000 resistance zone-now acting as a barrier-could prolong the downturn.

The market's fragility was compounded by Buterin's warning that elliptic curve cryptography, the foundation of Bitcoin and Ethereum's security, could be rendered obsolete by quantum computers as early as 2028. Speaking at the Devconnect Buenos Aires conference, Buterin emphasized that the threat is no longer theoretical, with quantum progress outpacing expectations. "Elliptic curves are going to die," he stated, urging the Ethereum ecosystem to transition to quantum-resistant protocols within the next four years. The comments amplified existing fears, with crypto investors now grappling with both short-term price volatility and long-term existential risks according to market analysis.

Buterin's remarks resonated across the industry. Scott Aaronson, a quantum computing researcher, echoed the urgency, noting that a fault-tolerant quantum computer running Shor's algorithm-a method to break ECC-could emerge before the 2028 U.S. presidential election. Meanwhile, companies like SEALSQ Corp and WISeKey have accelerated efforts to develop post-quantum cryptographic solutions, including quantum-resistant hardware and lattice-based algorithms.

Despite the gloom, some analysts pointed to potential catalysts for a rebound. Bitcoin's MVRV Z-Score, a metric gauging whether the asset is over or undervalued, hit a 14-month low, suggesting a possible accumulation phase by long-term investors. If buyers step in at current levels, the price could stabilize and retest the $96,000–$100,000 range. However, a breakdown below $90,000 would likely target $88,000 and beyond, with further losses possible if macroeconomic pressures or short-term holder exits persist.

The immediate focus for traders is Bitcoin's behavior at the $90,000 support level. A successful defense could trigger a short-term rally, while a breakdown would deepen the bearish narrative. Market participants are also monitoring institutional ETF flows, regulatory updates, and macroeconomic data, which could sway sentiment in either direction.

As the crypto market grapples with these dual challenges-short-term volatility and long-term quantum risks-the coming weeks will test the resilience of both price and the industry's preparedness for a post-quantum future.

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