Is there like legitimately a plan for what happens when quantum computers crack encryption? The most conservative estimates are now putting it less than a decade away, with many saying 2029 of 2030.

To me, it sounds like the world is 5 years away from breaking Bitcoin. But i dont have a super strong understanding of this stuff.

I know there is quantum resistant encryption and I hope Eth and others will figure that out. But, can Bitcoin realistically be updated as well?n

in the worst case they will fork it with better security, so nothing happens long-term, mid-term if they don't get consensus on upgrading nodes with post-quantum encryption algos it will plummet and stay at very lows for few or more years.