Peter Schiff Says BTC Is in a Long-Term Bear Market as Bitcoin Trades Under $69K

Three Things to Know Peter Schiff said bitcoin has entered a long-term bear market after it slid back to levels last seen in August. Daily momentum looks deeply oversold, yet sellers still control the trend and no reversal signal has appeared. Support near $63K now decides whether buyers get a bounce or the rout deepens. Bitcoin slipped below a key round number late Thursday, and gold advocate Peter Schiff quickly declared a bear market. Inflation fears, a firm dollar and a shakeup at Nvidia hit risk assets together. The drop matters because bitcoin now trades in step with the AI trade, and index changes threaten a major corporate buyer. Traders now weigh whether stretched momentum can spark a relief rally or futures selling pushes prices lower.

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