4 hours ago
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Key Takeaways
- Crowd sentiment hit -164 on June 3, its cycle low.
- 472 BTC obituaries. $100 each equals $66M today.
- The real selloff driver was $2.43B in May ETF outflows.
- Strategy net accumulated 170,000 BTC against 32 sold.
What Schiff Said
Peter Schiff posted two warnings on June 3. The first argued that Bitcoin’s complacency levels were incompatible with a genuine market bottom, predicting that a break below $50,000 would trigger a rapid collapse toward $20,000 and shake long-term holders into capitulation.
There is way too much complacency in Bitcoin for the market to be anywhere near a bottom. When Bitcoin breaks $50K, it should be a quick fall below $20K, which should be a big enough drop to shake the conviction of long-term HODLers, causing many to finally throw in the towel.
— Peter Schiff (@PeterSchiff) Read Entire Article
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