BTC
ETH
SOL
XRP
BNB
TON
DOT
LTC
POL
HBAR
NEAR
ARB
UNIPeter Schiff says Bitcoin could fall to $75,000 after losing $80,000
The economist and Bitcoin critic told followers on X that $75,000 is the likely next stop, singling out ETF holders who cannot sell at the weekend. Spot Bitcoin ETFs had already lost $635m in a single day.
Key points
- Schiff posted on 24 Oct that with Bitcoin below $80,000, "the next stop is likely $75,000"
- US spot Bitcoin ETFs shed $635m on 22 Oct, with BlackRock's IBIT losing $254m and Fidelity's FBTC $217m
Peter Schiff says Bitcoin could fall to $75,000 after the cryptocurrency broke below $80,000, warning that ETF investors face a long weekend because they cannot sell until Monday. The economist and longtime Bitcoin critic made the call on X on 24 Oct, Bitcoin.com News reports.
The decline took Bitcoin to about $79,146 on 24 Oct, its lowest level in more than a month and still above Schiff's target.
Schiff's warning follows a 22 Oct post in which he questioned how long Bitcoin could hold up as technology stocks weakened, citing pressure on artificial intelligence-related shares. He also noted gold fell below $4,000 on 23 Oct, writing that both stocks and gold had been weak.
Demand had softened before the weekend. US spot Bitcoin ETFs lost $635m to withdrawals on 22 Oct, with BlackRock's IBIT shedding $254m and Fidelity's FBTC $217m, after three sessions that drew more than $1bn. Provisional Farside figures show a further $138m left on 23 Oct, with one fund yet to report. Schiff's point about timing rests on Bitcoin trading continuously while US-listed ETF shares follow stock-market hours.
What to watch: Bitcoin traders and ETF investors await Monday, when US markets reopen and ETF shares can be sold again.
Live updates on NewsFeeds:BitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.