Bitcoin Drops to $73K: While Gold Soars and the Quantum Algorithm Chart Makes a Splash

The world’s largest cryptocurrency is under heavy pressure below $75,000, while global investors are quickly turning to traditional risk mitigation tools. Bitcoin’s prolonged weakness has not only pushed gold and silver to record highs but also reignited the debate over whether quantum algorithm schemes are a true driver or just an exaggerated theory. Behind the numbers and conflicting statements, market experts believe the root cause lies deeper: from long-term holders’ sell-offs to planned technical initiatives to address future technological challenges.

Gold and Silver Soar: Bitcoin Loses Out in the Safe-Haven Race

Since the victory of the November 2024 election, assets considered “safe” have seen incredible gains. Gold has risen 83%, silver up to 205%, while technology stocks (Nasdaq) increased by 24% and the S&P 500 by 17.6%. In contrast, Bitcoin only declined 2.6% during this period, but this difference actually reflects a deeper trend.

Gold prices just hit a record high near $4,930 per ounce, while silver soared close to $96. Investors are not seeking profits but protecting assets against global economic risks: geopolitical tensions, debt concerns, and central banks’ gold reserve accumulations. This comparison highlights a harsh truth: Bitcoin is functioning as a high-risk asset, not as a hedge.

Shor’s Algorithm and the Quantum Debate: Loose or Tight?

The debate over quantum computing and its potential to threaten Bitcoin has resurfaced once again, this time with greater intensity. Nic Carter, partner at Castle Island Ventures, posed a provocative question: is Bitcoin’s weakness related to growing concerns about the Shor algorithm scheme — a theoretical algorithm that could break elliptic curve cryptography?

“The market is sounding the alarm on quantum risk,” Carter stated, “but developers seem to be ignoring it.” However, these comments immediately drew strong reactions from the blockchain analysis community. They argue that attributing Bitcoin’s performance to quantum theory is a market psychology misjudgment.

Supply Side Dynamics: The Real Explanation from Experts

Analysts like Checkmatey from Checkonchain argue that what we’re witnessing is a classic cycle driven by supply, unrelated to future technological concerns. “Governments are buying gold instead of Treasury bonds,” Checkmatey explains. “Bitcoin experienced major sell-offs from long-term holders (HODLers) in 2025 — enough to manage the long-standing bullish markets.”

Bitcoin investor Vijay Boyapati offers a more specific reason: “What changes everything is the issuance of a large amount of coins when Bitcoin hits the psychological milestone of $100,000 for institutional investors.” On-chain data confirms that long-term holders began selling as Bitcoin approached six figures, releasing supply to allow ETFs and new institutions into the market, thus limiting upward momentum.

BIP-360 and the Path to Quantum Resistance: Planning Ahead

While the quantum debate continues, most Bitcoin developers see this risk as a long-term manageable threat rather than an urgent issue. The Shor algorithm scheme, in theory, could break the elliptic curve cryptography used by Bitcoin, but powerful enough quantum computers to do so are still far off.

Adam Back, co-founder of Blockstream, affirmed that even in the worst-case scenario, any period before quantum computers become dangerous would not cause immediate network damage. The proposed BIP-360 outlines a specific roadmap to transition to quantum-resistant address formats, allowing upgrades to occur gradually before any credible threat emerges. These changes are expected to take several years to complete, not just a few quarters — making quantum risk a less convincing explanation for short-term price weakness.

Gold Heading Toward $23,000: The Shift in Global Capital Flows

While Bitcoin struggles, long-term forecasts for gold are becoming more confident. Charles Edwards, founder of Capriole Investments, predicts gold could reach between $12,000 and $23,000 per ounce over the next 3 to 8 years. Edwards cites reasons such as record gold reserves held by central banks, monetary supply growth exceeding 10% annually, and China increasing its gold reserves nearly tenfold in the past two years.

“If this cycle reflects the historic asset expansion of the 20th century, gold’s upside potential is far from over,” Edwards remarks. Although the monthly RSI for gold has hit the highest overbought level since the 1970s, experts believe this demand stems from real economic structures rather than temporary speculation.

Bitcoin at Technical Support Levels: Short-Term Outlook Amid Economic Volatility

Currently, Bitcoin (price $73.45K, down 2.93% in 24 hours) remains heavily impacted by ongoing macro pressures. Rising bond yields, escalating trade tensions, prolonged geopolitical instability, and the global capital shift from risk assets to capital preservation — all continuously influence Bitcoin.

Traders are now focusing on key technical support levels. Bitcoin needs to regain the $91,000–$93,500 zone to restore its upward momentum. Failing that, the main support will be in the $85,000–$88,000 range. According to Cointelegraph, until monetary or geopolitical stability improves, Bitcoin is likely to continue reacting to external events rather than establishing its own trend — while gold continues to benefit from large-scale global capital shifts, and concerns over the quantum algorithm scheme remain a long-term topic for developers to prepare for.

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