Bitcoin price fell below $67,000 as selling pressure deepened across the crypto market, renewing criticism from longtime Bitcoin skeptic Peter Schiff and reviving debate over whether the asset’s latest drawdown reflects a broader market breakdown or another cycle-based correction. BTC had already slipped below $70,000 for the first time since April 7 before extending losses toward the $67,000 area. The move followed a sharp decline from recent highs and came as short-term holders sent more coins to exchanges at a loss, while spot Bitcoin exchange-traded funds continued to record outflows. Schiff argued that Bitcoin’s underperformance from its November 2021 peak compared poorly with other major assets. He said BTC was trading below $69,000, a level first reached nearly five years ago, while the Nasdaq had gained 73%, gold had risen 138% and silver had climbed 218% over the same period. He said investors who bought Bitcoin during that window had missed gains available in both equities and metals. Peter Schiff Targets Bitcoin as Price Weakens Schiff said early Bitcoin investors had made large gains but argued that more recent buyers had faced weaker results. He also said Bitcoin’s chart looked like a large top, adding that the asset could have further downside. His comments drew responses from Bitcoin supporters, who said the comparison used the 2021 cycle peak as a starting point while ignoring Bitcoin’s recovery from the 2022 bear market low near $16,000. Some users noted that BTC had still delivered large gains for investors who bought during lower-stress periods. Source: X Schiff also criticized the possibility of government support for the crypto market. As Bitcoin broke below $67,000, he claimed pressure could build from Trump-linked Bitcoin donors and family business interests to use the Strategic Bitcoin Reserve to support Bitcoin investors and the wider crypto industry. However, Schiff said Republicans should join Democrats in opposing such a move. The comments came as Strategy also returned to market debate. Schiff pointed to reports that Strategy sold 32 BTC for about $2.5 million at an average price near $77,135. He said the sale raised questions about demand if one of Bitcoin’s largest corporate holders reduced exposure. Concurrently, the discussion also moved to Strategy-linked products. Schiff said STRC trading below par showed investor concern over yield payments and could pressure the company to adjust terms. However, supporters have pushed back, saying the reported BTC sale represented only a very small portion of the company’s total Bitcoin position. BTC Exchange Inflows Show Short-Term Holder Stress On-chain data added to concerns around recent buyer behavior. Market commentary said more than 38,000 BTC moved to exchanges over 24 hours, with hourly Binance inflows sometimes reaching between 1,500 BTC and 4,000 BTC. Short-term holders reportedly sent more than 35,000 BTC to exchanges at a loss during the same period. These flows suggest recent buyers are reacting quickly to the sell-off, increasing realized losses as Bitcoin trades in a wide sideways range. Source: X The decline also followed rising geopolitical uncertainty . Market commentary linked part of the pressure to renewed tension around U.S.-Iran negotiations after reports that talks faced setbacks tied to ceasefire violations and regional military activity. Spot Bitcoin ETFs have also remained under pressure. Reports cited a streak of net outflows estimated in the billions of dollars, while U.S. equities continued rising on strong demand for artificial intelligence-linked stocks. That divergence has added to the view that capital has rotated away from crypto during the latest risk-off move. Bitcoin Dead Debate Returns The sell-off has revived the recurring “Is Bitcoin dead?” debate. A widely shared market commentary argued that similar questions appeared after earlier crashes, including Bitcoin’s 2018 decline toward $3,142 and its 2022 fall near $16,000. Both periods were later followed by new cycle highs. The commentary framed bear markets as a process that removes leveraged traders and weak holders while transferring supply to investors with stronger conviction. It also pointed to Bitcoin’s fixed issuance schedule, noting that higher prices do not create extra supply in the way they can for commodities or real estate. Source: X Matt Cole, CEO of Strive, also responded to the debate after the recent 2500 BTC buy . He said Strive’s balance sheet could withstand a repeat of the 2022 bear market without selling Bitcoin. Cole added that BTC was not dead and said fearful market conditions can create opportunities for long-term buyers. Bitcoin now needs to reclaim $71,305 to reduce immediate downside pressure. A stronger recovery would require a move back above $74,020, followed by resistance near $77,887 and $82,811. Until those levels are recovered, traders are watching whether BTC can hold the mid-$60,000 range or continue toward lower support.
