Bitcoin News Update: Bitcoin Drops to $87K Amid Quantum Computing Concerns and $1.3B Whale Sell-Off

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Bitcoin News Update: Bitcoin Drops to $87K Amid Quantum Computing Concerns and $1.3B Whale Sell-Off

Bitget-RWA2025/11/24 04:32

By:Bitget-RWA

- Bitcoin fell below $87,000 on Nov. 20, 2025, driven by quantum computing fears and a $1.3B whale exit, erasing $220M in long positions. - Billionaire Ray Dalio warned of quantum risks to Bitcoin, while critics argued SHA-256 encryption outperforms traditional banking standards. - Zcash (ZEC) gained traction as a privacy-focused alternative, challenging Bitcoin's dominance amid $910M in 24-hour liquidations. - Quantum advancements by WiMi and IBM , plus projects like Bitcoin Munari, highlight evolving cry

On November 20, 2025, Bitcoin's value dropped below $87,000, highlighting a market shaken by concerns over quantum computing and a massive $1.3 billion sell-off by a major holder. This event reignited discussions about the long-term safety of cryptocurrencies. The sharp decline, which wiped out $220 million in long positions, came after billionaire Ray Dalio expressed worries about Bitcoin's potential exposure to quantum-based threats. Although Dalio pointed out hypothetical dangers, some, including financial analyst Mel Mattison, countered that Bitcoin's SHA-256 encryption is actually stronger than the RSA protocols used by traditional banks, indicating that the fears were

exaggerated according to experts

The volatility intensified when Owen Gunden, an early

Bitcoin

adopter, decided to sell his 11,000 BTC after holding for 14 years.

Arkham disclosed the transaction

, which added more coins to a market already under pressure and sped up the downward trend.

CoinGlass statistics showed

that over $910 million was liquidated in just one day, with both long and short positions seeing $264 million cleared in a single hour, underscoring the market's instability.

At the same time,

Zcash

(ZEC) gained momentum as a privacy-centric alternative, challenging Bitcoin's leading position.

Bloomberg Senior ETF Analyst Eric Balchunas cautioned

that Zcash's growth could divide support for the top cryptocurrency, comparing its impact to that of a third-party candidate in a crucial election. In contrast, the Winklevoss twins described Zcash as an "encrypted Bitcoin" that complements BTC by enabling private transactions.

Some critics argued Zcash

remains a specialized asset unlikely to sway Bitcoin's core user base.

Meanwhile, progress in quantum computing drew attention as companies like WiMi Hologram Cloud and IBM advanced the technology.

WiMi unveiled a QGAN system with dual discriminators

, designed to improve quantum model training by utilizing quantum convolutional neural networks (QCNNs).

IBM and Cisco revealed a partnership

to develop a network of large-scale quantum computers, aiming to establish a "quantum computing internet" by the late 2030s.

As these trends unfold, the intersection of quantum threats, privacy-focused solutions, and institutional moves is expected to drive the next stage of cryptocurrency development.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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