Major Tokens Hold Ground While Google’s Quantum Leap Sparks Renewed Anxiety Over Blockchain Vulnerabilities

Crypto Markets Stall as Quantum Computing Jitters Resurface; October Set for Weakest Gains in a Decade

Bitcoin and major altcoins traded sideways on Thursday, capping a sluggish month that’s on pace to deliver the weakest October performance since 2015 — a stark contrast to the month’s usual bullish reputation.

Bitcoin (BTC) hovered near $109,000 in Asian trading hours, extending its two-week consolidation following the Oct. 10 crash that wiped out around $19 billion in leveraged positions and dented market confidence.

Ether (ETH) remained steady around $3,850, while Solana (SOL), XRP, and Cardano (ADA) saw negligible movement. The broader market has spent most of the month oscillating in a tight band, reflecting investor fatigue after early volatility failed to sustain momentum.

“Traders are in a ‘sell-the-growth’ mindset — every bounce gets sold into,” said one market participant. “Liquidity is thinning, and sentiment is just drifting lower.”

The Crypto Fear & Greed Index has slipped to 25, signaling “fear,” with Bitcoin caught between its 50- and 200-day moving averages — a pattern that suggests indecision and fading conviction on both sides of the market.

Adding to the unease, Google’s announcement of achieving a “quantum advantage” with its Willow chip briefly reignited old anxieties about Bitcoin’s cryptographic security. While practical quantum attacks remain years away, the development reminded investors how quickly narratives can shift in a stagnant market.

Still, macro uncertainty continues to dominate sentiment. With the Federal Reserve’s Oct. 29 meeting on the horizon, traders remain cautious about taking large positions in either direction.

“The market’s coiling in this narrow range, which often precedes a breakout,” said Alex Kuptsikevich, chief market analyst at FxPro. “Either bulls lose patience, or bears run out of conviction — something’s bound to give.”

For now, though, crypto appears trapped in neutral. Even Google’s quantum leap wasn’t enough to stir conviction — and in a market built on speculation and narrative, apathy may be the most bearish signal yet.

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