Peter Schiff urged bitcoin holders to sell on Nov. 9 as the price traded below $75,000. He predicted a crash, but that was his forecast, not a reported outcome. Bitcoin later traded near $74,600 at the time of writing.
U.S. spot bitcoin ETFs recorded $1.28 billion in outflows the previous week, their largest weekly outflow in about four months. Bitcoin also closed below its 50-week moving average, ending seven weeks of closes above it. Other analysts disagreed with Schiff’s outlook, and derivatives positioning showed about $1.3 billion in short positions at risk of liquidation if bitcoin rose to $79,000.
