Bitcoin Price Prediction – BTC Eyes $89k Breakout on Risk-On Momentum Despite Google Quantum Fears

Highlights:

• Bitcoin rises, a signal to renewed buyer interest and possible near-term breakout.
• Risk-on sentiment lifts BTC alongside equities after progress in Middle East peace talks.
• Google quantum computing warning caps BTC gains, but fears are seen as short-term.

Bitcoin (BTC) has made minor gains intraday. At the time of writing, Bitcoin was trading at $68,547.52, up 3.26% intraday. However, Bitcoin trading volumes have shot up by 15% to stand at $42.39 billion. Such a surge in trading volume indicates that buyers are returning. As such, it could be a precursor to a big price move for Bitcoin in the short term. This return of positive sentiment reflects developments across the Middle East. 

Bitcoin Gains Alongside Risk-on Assets On Hopes of Iran War Ending

Yesterday, 31 March, it emerged that the US had made progress in talks to end the war. The result is that major stock indices rally intraday. The Dow rallied over 1000 points, and the S&P 500 shot up by over 2%.

Since Bitcoin tends to trade in the overall direction of the top US indices, it benefited as well. If market-wide optimism about an end to the war remains strong, all risk-on assets could rally. Since Bitcoin tends to trade as stock-market alpha, this could mean a rally back to all-time highs in the foreseeable future.

"Two weeks, maybe three." – Trump on ending the war on #Iran.#IranWar pic.twitter.com/H9ayQMy9Go

— Commentary: Trump Truth Social Posts On X (@TrumpTruthOnX) March 31, 2026

Google’s News On Quantum Computers Stalls Bitcoin Rally

However, something interesting happened in Bitcoin’s price action while the stock markets were flying. Ordinarily, a rally in the S&P 500 should have easily pushed Bitcoin through $70k. However, this did not happen, and that could have to do with news from Google that arrived at the same time as the markets were digesting positive news from the Middle East.

Google announced that Quantum computers could break Bitcoin much earlier than analysts had expected. This goes to show that there has been a major leap in quantum computer development, and it is a negative for all cryptography as it is currently structured. It is a damper on investor optimism in Bitcoin, even as markets rally across the board. 

Quantum FUD Likely to Be Short-Lived for Bitcoin

The Google news is likely short-term FUD, though, and if markets keep rallying, Bitcoin could follow forth. That’s because Google does not yet have a quantum computer capable of breaking Bitcoin, and it could still be decades away.

Besides, even if they get it, Google’s paper on quantum computers noted that breaking the Bitcoin network itself would be impossible. What could come under threat are individual user habits, such as weak passwords and seed phrases. The industry is already working to continually strengthen the wallet. With this alert from Google, users will become increasingly sensitized to how to better store their coins. As such, this is unlikely to have a major impact on Bitcoin’s long-term price. 

In fact, with the possible end to the war, a series of issues could follow that could lift Bitcoin in the short term. The most important thing is that oil prices could go down significantly, and cut the risk of inflation. This could incentivize the Federal Reserve to cut interest rates. Since Bitcoin tends to do well in low-interest-rate environments, this could mean a potential rally to new all-time highs in the foreseeable future. 

Technical Analysis – Bitcoin Still Stuck In Range Despite Intraday Gains

Despite making some gains in the last 24 hours, Bitcoin is still stuck between the $74,882 resistance and $62,618 support. If buoyed by the broader market rally, Bitcoin could rally through $74,882, with $89,305 as a short-term target.

However, if fears of quantum computers breaking Bitcoin rise and the price falls through the $62,618 support, a correction to $60k could follow. Of these scenarios, the one with the most immediate impact is a possible end to the war. This could send Bitcoin to new highs in the short- to medium-term.