Bitcoin briefly climbed above $81,000 on October 26 after falling to around $79,100, contradicting Peter Schiff’s $75,000 target in the short term. The price subsequently slipped back below $80,000, highlighting the market’s continued volatility. Schiff, a longstanding Bitcoin critic, argues that the cryptocurrency lacks the monetary history and intrinsic value he associates with gold, while admitting that its resilience has surprised him. Meanwhile, US spot Bitcoin ETFs recorded outflows of $635.5 million on October 22 and $137 million on October 23. The $80,000 and $75,000 levels remain crucial: a sustained recovery above the former would weaken the immediate collapse case, while a move toward the latter would bring Schiff’s latest forecast closer to reality.
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