Bitcoin Slips Under $64K As Peter Schiff Tells Holders To Sell

Bitcoin experienced a sharp rejection near the $65,200 mark, falling by about $1,500 in just a few minutes. The leading cryptocurrency slipped under the $64,000 threshold, marking a notable downward move after a relatively quiet period of trading.

Noted crypto critic Peter Schiff quickly jumped on the price drop to attack the asset. Schiff pointed to a recent corporate treasury sale and argued that lenders lack confidence in Bitcoin as collateral. He urged investors to sell both their shares in MicroStrategy and their Bitcoin holdings immediately.

Schiff also contrasted Bitcoin's performance with gold, noting that the precious metal recently bounced back strongly while Bitcoin resumed its decline. Traders should watch key support levels closely to see if buyers step in or if the downward pressure continues in the near term.