Crypto Majors Unmoved as Google’s Quantum Computing Advance Reignites Fears of Blockchain Cracks

Crypto Market Flat as Google Quantum Breakthrough Fails to Shift Sentiment; October Set for Weakest Gains Since 2015

Bitcoin and major altcoins remained range-bound on Thursday, with October on track to post its weakest returns since 2015 — despite historically being a bullish month.

Bitcoin (BTC) traded near $109,000, holding steady after the Oct. 10 crash that wiped out roughly $19 billion in leveraged positions and dented risk appetite. Ether (ETH) hovered around $3,850, while Solana (SOL), XRP, and Cardano (ADA) saw minimal movement.

Traders describe the market as being in “sell-the-growth mode,” with each small rally quickly faded amid thin liquidity. The Crypto Fear & Greed Index sits at 25, signaling persistent fear, while Bitcoin remains caught between its 50- and 200-day moving averages.

Even Google’s announcement of a “quantum advantage” via its Willow chip failed to shake the market. While practical quantum threats to Bitcoin remain years away, the milestone briefly reignited concerns over crypto’s long-term security.

Macro uncertainty also weighs on sentiment, with the Federal Reserve’s Oct. 29 meeting looming. “The market is coiling in this tight range — either bulls lose patience or bears run out of conviction,” said Alex Kuptsikevich, chief market analyst at FxPro.

For now, the market’s indifference may itself be a bearish signal. Even a headline-making quantum leap wasn’t enough to provoke action, highlighting the fragile state of investor confidence amid a muted October.