Peter Schiff, a Bitcoin critic and gold advocate, said the cryptocurrency was finally breaking down. Bitcoin briefly fell to approximately $79,226 on Saturday, October 24, before recovering above $80,000, just days after approaching $85,000. Schiff believes Bitcoin could decline toward $75,000 and said a failure to hold that level would trigger further substantial losses. More than $815 million in leveraged cryptocurrency positions were liquidated within 24 hours, including roughly $404 million in long positions, while U.S.-listed spot Bitcoin ETFs recorded $635.5 million in net outflows on Thursday.
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