Bitcoin Approaches $65,000 as Peter Schiff Calls It a Sell Opportunity

Bitcoin (BTC) climbed back above $64,000 on Monday, and Peter Schiff, the Euro Pacific Capital economist and longtime Bitcoin skeptic, wasted no time calling the move a selling opportunity rather than a turning point.

In the same breath was quick to praise his preferred asset, precious metals, noting Gold is now above $4,430 and silver is above $66.25.

Another Attack on Bitcoin by Schiff

Schiff posted on X that he was unsure why Bitcoin failed to sell off, adding that the rally gave holders another chance to exit before resistance caps further gains.

I’m not sure why Bitcoin didn’t sell off today, but the rally gives HODLers another opportunity to sell. Any ideas what’s propping it up? Remember, $65K is resistance. There isn’t much upside above that level, but plenty of downside below.

Fed Rate Bets Fade, Lifting Risk Appetite

Bitcoin’s recent price rise towards $65,000, likely answer sits in Washington rather than on-chain. Goldman Sachs chief economist Jan Hatzius called a September Federal Reserve rate hike “very unlikely” in a Sunday note, citing soft retail sales, weak jobs data, and cooling inflation.

Traders now price just a 30.6% chance of a hike next month, down sharply from a week earlier, according to CME FedWatch data.