Peter Schiff warns Bitcoin could fall to $75,000 as ETFs see $635 million outflow

Bitcoin faced renewed selling pressure over the weekend, with high-profile critic and gold advocate Peter Schiff stating that the world’s largest cryptocurrency is “finally breaking down.” Schiff’s remarks came as Bitcoin’s price dropped below the closely watched $80,000 mark, amplifying concerns among traders and institutional investors about further downside. Schiff, a longtime Bitcoin skeptic, voiced his views following the recent market sell-off. He argued that Bitcoin could be heading toward $75,000 in the short term and warned that a sustained failure to hold this level could lead to deeper losses for investors. He specifically drew attention to the predicament faced by holders of spot Bitcoin exchange-traded funds (ETFs), noting that they are unable to sell their positions during weekends due to traditional stock market closures.

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