🟠Euro Pacific Capital CEO Peter Schiff once again criticized Bitcoin, claiming that the leading cryptocurrency is losing momentum as traditional safe-haven assets gain ground. He noted that the Fed’s recent rate cut fueled commodity markets: gold surged 11% in a month, surpassing $3,700 per ounce, while silver hit a new record above $43. Against this backdrop, Schiff argues, Bitcoin is retreating toward more conservative levels.
🟠According to him, once U.S. markets open, pressure on crypto could intensify, as investors reduce risk exposure and move into established assets. His view is supported by market data: earlier this week, the liquidation of Bitcoin longs wiped out more than $1.7 billion in market cap within 24 hours.