Bitcoin is holding near $64,000 after another push toward $65,000, but longtime crypto critic Peter Schiff says the rebound is another opportunity for holders to sell rather than the start of a stronger recovery.
His warning comes as expectations for another Federal Reserve rate increase decline, giving Bitcoin and other risk assets a more supportive macro backdrop.
Peter Schiff Warns Bitcoin Could Struggle Above $65,000
Schiff questioned Bitcoin’s ability to extend gains beyond $65,000, calling the level an important resistance zone and arguing that downside risks remain greater than the potential upside.
In a post on X, he said the latest rally gives holders another chance to exit before resistance limits further gains. Schiff also pointed to strong gold and silver prices, continuing his longstanding argument that precious metals are better stores of value than Bitcoin.
Bitcoin’s reaction around $65,000 will now be closely watched. A sustained breakout would weaken the immediate bearish case, while another rejection could keep BTC trapped in its recent range.
Falling Fed Rate-Hike Odds Support Bitcoin
Bitcoin’s recovery is also being helped by changing expectations around U.S. monetary policy.
Goldman Sachs chief economist Jan Hatzius said a September Federal Reserve rate increase appears unlikely, citing weaker employment growth, softer consumer spending and moderating inflation.
Interest-rate markets have moved in the same direction, with traders assigning a much lower probability to another rate increase than they did a week ago.
Reduced expectations for tighter monetary policy can support Bitcoin by improving conditions for risk assets and limiting upward pressure on interest rates.
Schiff’s Bitcoin Bearishness Goes Back More Than a Decade
Schiff has criticized Bitcoin since its early years and has repeatedly argued that gold offers a stronger alternative.
Earlier in 2026, he suggested that a break below $50,000 could eventually send BTC toward or below $20,000. That scenario has not materialized, with Bitcoin continuing to trade above $60,000.
For now, the immediate focus remains on $65,000. A convincing move above that level would strengthen Bitcoin’s recovery, while another rejection could give sellers an opportunity to regain control.
