Peter Schiff, a prominent Bitcoin critic, has reiterated his prediction of a Bitcoin price collapse amid the current market downturn. Schiff argues that if long-term Bitcoin holders start selling, the increased supply could lead to a significant price drop due to insufficient demand. He highlights that while most Bitcoin is not currently for sale, a shift in holder sentiment could trigger a market crash.
Meanwhile, BlackRock's Bitcoin ETF (IBIT) has attracted $660 million in inflows in a single day, indicating strong institutional interest. However, some large Bitcoin holders have begun reducing their positions, adding to market uncertainty.
Peter Schiff Warns of Bitcoin Price Collapse Amid Market Downturn
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.

