Peter Schiff warns Bitcoin faces greater selling pressure
2026-07-31 00:21:30
According to CoinMeta, Peter Schiff warned on Twitter that as the sell-off in tech stocks spreads, the entire U.S. stock market is overvalued, and he expects Bitcoin to face even greater selling pressure. He pointed out that although the Dow Jones Industrial Average has risen by more than 400 points, the losses in tech stocks have been more severe, and he believes this divergence is temporary, as the overall index has not yet absorbed the corrections that have already occurred in overvalued tech companies. Schiff's view is that Bitcoin, as a high-volatility risky asset, will be affected by the broader market decline, and liquidity will withdraw from speculative assets, leading to greater selling risk for Bitcoin. Although Bitcoin was trading near $62,852 at the time of his post and later rebounded above $64,000, it is still below the levels seen at the beginning of the cycle. Schiff's warning emphasizes that the weakness in tech stocks could trigger a persistent aversion to risk in the broader market, thereby pushing Bitcoin lower.
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Source:Internet
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