Bitcoin faced renewed selling pressure this week after dipping below $109,000, and economist Peter Schiff believes the decline could deepen significantly. The long-time crypto skeptic cautioned that the leading digital asset may be headed toward $75,000, a level not seen since April 2025.
Schiff, who has often criticized Bitcoin’s long-term sustainability, argued that the cryptocurrency has lost upward momentum and remains vulnerable to sharper corrections in the weeks ahead. He advised traders to consider exiting positions now and look to re-enter if the asset drops to lower support levels.
Institutional Buying Fails to Calm Concerns
Despite a wave of institutional demand, Schiff remains unconvinced that such activity is enough to support Bitcoin’s price. Business intelligence firm Strategy recently added more than 3,000 BTC to its holdings, bringing its total stash to over 632,000 BTC.
However, Schiff suggested that these purchases could backfire if prices continue sliding, leaving large buyers with significant unrealized losses. His remarks highlight a growing debate between Bitcoin advocates, who see institutional inflows as validation, and skeptics, who argue that the asset is still prone to speculative cycles.
Wider Market Dynamics at Play
Analysts tracking market structure note that Bitcoin is testing critical support levels. A sustained break below $109,000 could open the door to sharper losses, with $75,000 emerging as the next significant floor. Market data also shows rising volatility in futures contracts, with leveraged positions at risk of liquidation if downside momentum accelerates.
Schiff’s Long-Standing Criticism of Bitcoin
Schiff’s bearish outlook is consistent with his past skepticism of Bitcoin. He has frequently compared the cryptocurrency to speculative bubbles in history, such as the 17th-century Dutch tulip craze, while promoting gold as a safer store of value.
His warnings often draw pushback from the crypto community, but his persistence underscores the broader divide between traditional market economists and digital asset advocates.
Outlook
For now, Bitcoin continues to trade with heavy volumes, reflecting both speculative interest and institutional positioning. Whether the asset holds above key support or breaks lower will determine if Schiff’s prediction materializes.
If Bitcoin can maintain current levels and attract continued inflows, it could stabilize and rebound toward previous highs. But if selling intensifies, the road to $75,000 may be shorter than many expect.
