Economist Peter Schiff says a "much bigger selloff" in Bitcoin is coming, citing an overpriced U.S. stock market and expected spread of weakness beyond tech stocks.
Longtime Bitcoin critic Peter Schiff argued in a post on X that the recent weakness in Bitcoin, which briefly dropped below $62,000 amid tech stock sell-offs and ETF outflows, is far from over. He expects the broader U.S. stock market, which he deems overpriced, to see a correction spread beyond technology companies, leading to greater selling pressure on speculative assets like Bitcoin. Bitcoin reached a record high of over $120,000 last October but has since lost more than half its value.
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