Quantum chip breakthroughs have led to a Bitcoin crash, with 230,000 people experiencing margin calls.

Quantum chip computing power breakthrough has led to a collective crash in the cryptocurrency market. Yesterday, Bitcoin plummeted from $100,000 to $94,150 at one point, currently trading at $96,084, down 2.04%. According to Coinglass data, 237,000 people were liquidated in the past 24 hours.

After briefly breaking through the $100,000 mark, Bitcoin began to enter a downward and volatile phase. Ethereum fell by 4.51%, Dogecoin by 6.89%, and several other cryptocurrencies saw drops exceeding 10%.

The cryptocurrency market suffered a heavy blow, with Coinglass data showing that over the past 24 hours, 237,000 people were liquidated. In the same period, the cryptocurrency market saw a total of $620 million in liquidations across all contracts, with long positions accounting for $480 million and short positions for $140 million.

The news that led to a significant drop in Bitcoin prices came from a sudden surge in computing power. Google announced the launch of its latest quantum chip, "Willow," achieving a cosmic breakthrough in quantum computing. Willow completed a "standard benchmark calculation" in less than five minutes, whereas the fastest computers currently available would require at least 10 septillion (10 to the power of 25) years for the same test.

Bitcoin mining involves solving complex mathematical problems to verify transactions and record them on the blockchain. The difficulty of these problems is dynamically adjusted to ensure that a new block is generated roughly every 10 minutes. Therefore, the demand for mining power is related to the number of "miners" in the network and the level of computing power they possess.

The computing power of Bitcoin mining machines is used to measure mining performance, usually expressed in terms of hash rate, which is the number of calculations per second. The higher the hash rate, the greater the chance of mining Bitcoin.

If Google's quantum chip computer were used for mining, the cost of cryptocurrency mining would undoubtedly plummet, leading to a collective drop in cryptocurrencies.

After the announcement of Google's quantum chip, some网友 expressed concerns: "Such powerful computing power, isn't that unfriendly to Bitcoin?" Other网友 worried: "Won't this chip mine all the remaining Bitcoins in an incredibly fast manner?" "It's like a heavyweight boxer entering a lightweight boxing ring; it's not a fair fight."