Peter Schiff, CEO of Euro Pacific Capital and a long-time Bitcoin critic, has told investors that Bitcoin’s recent price recovery should be treated as a selling opportunity rather than a reason to turn bullish. In a post on X, Schiff said he was uncertain why Bitcoin had not declined during the last trading day, but argued that the bounce gives long-term holders a chance to reduce positions.
Schiff specifically pointed to $65,000 as a key resistance level. He said Bitcoin has limited upside above that threshold and warned that downside risks become more significant while the price remains below it. He also admitted he could not identify the fundamental factors supporting the current rise, reinforcing his bearish stance.
According to CoinMarketCap, Bitcoin was trading at $64,405 at the time of his remarks, up 2.49% over the previous 24 hours. That left the largest cryptocurrency hovering just below the level Schiff highlighted. His comments come amid broader debate over whether Bitcoin’s recovery is sustainable, with traders closely watching the $65,000 zone as a potential psychological barrier and technical pivot.
Schiff’s warning adds a skeptical voice to the current market narrative. While some investors see the rebound as a sign of strength, others remain cautious because of macroeconomic uncertainties, interest rate expectations, and regulatory developments. Whether Bitcoin breaks above $65,000 or gets rejected there could shape the next phase of short-term trading.
