Bitcoin News
By Steven Anderson
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The $58K–$65K Cage. Bitcoin has been bouncing between $58,000 and $65,000 for most of the summer.
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Schiff's "Anti-Gold" Take. Schiff calls bitcoin "anti-gold," which is kind of his whole framework for understanding the asset.
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What Could Actually Move the Needle. Institutional involvement is probably the biggest wildcard here.
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Bitcoin is stuck. Has been all summer. Peter Schiff, the gold bug and longtime bitcoin bear, says $65,000 is the number that matters — and so far, the market hasn't been able to…
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Schiff called out $65,000 as a critical resistance level traders are watching closely right now.
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Bitcoin has been bouncing between $58,000 and $65,000 for most of the summer. That range has become almost boring to watch.
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Technical analysts are pointing to the 50-day and 200-day moving averages as the walls bitcoin can't seem to get past.
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Schiff has been saying for a while now that investors might regret not selling above $60,000.
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And yet. Bitcoin hasn't collapsed. That's the awkward part of Schiff's narrative right now.
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Read also: Japans Yen Crisis Puts $64K Bitcoin at Risk as BOJ Rate Hike Looms
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His skepticism isn't new, obviously. He's been warning about bitcoin for years. But the summer's trading range has given his $65,000 resistance call some real teeth.
12 / 15
A close above $65,000 would probably force a rethink. It could open the door to retesting the highs from earlier in the year.
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Institutional involvement is probably the biggest wildcard here. Bitcoin ETFs have pulled in significant interest, and corporate treasury strategies — firms like Strategy holding…
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Regulatory developments are murky too. No clear direction there yet, and that ambiguity tends to keep big money on the sidelines, waiting for more certainty before making…
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Read also: Ethereum Holds $1,912 With $2,000 Barrier Backed by 200-Day Average
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