Bitcoin hit $94.1k due to profit-taking: Bitcoin’s price has dropped to $94.1K, largely due to profit-taking by significant players in the market. These traders have shifted their gains into March 2025 call options targeting $130K to $150K. This move may prevent any immediate gains beyond $100K, affecting Bitcoin’s short-term price trajectory.
Quantum concerns over Bitcoin security: Fears of quantum computing’s potential impact on Bitcoin’s security have emerged, following Google’s announcement of Willow. Although some worry about its vulnerability, others argue that quantum technology needs more years to affect Bitcoin. Google’s current quantum capacity, with 105 qubits, remains insufficient to compromise Bitcoin security.
Upward price Movement still possible: Despite Bitcoin’s recent decline, there is potential for upward price movements due to liquidity between $98K and $104K. According to Cryp Nuevo and other analysts, the market may correct before rising again. QCP Capital, however, predicts Bitcoin will remain range-bound through the holiday season.