Peter Schiff Says Bitcoin Rebound Is a Selling Chance, Flags $65K Resistance

BitcoinWorld Peter Schiff Says Bitcoin Rebound Is a Selling Chance, Flags $65K Resistance Peter Schiff, CEO of Euro Pacific Capital and a well-known Bitcoin critic, has advised investors to treat the current Bitcoin rebound as a selling opportunity.

In a post on X, Schiff expressed uncertainty about the reason behind the day’s price increase but suggested that long-term holders should use the bounce to reduce their positions.

Schiff’s Technical Outlook Schiff identified $65,000 as a key resistance level, arguing that Bitcoin has limited upside above that point and substantial downside risk below it.

He also admitted he did not know what was currently supporting the price, a statement that underscores his bearish stance. According to CoinMarketCap, Bitcoin was trading at $64,405, up 2.49% over the past 24 hours, hovering just below the level Schiff highlighted.