Bitcoin Whales Dump $1.65B as Schiff Predicts a Fall Below $20K

• Peter Schiff says a break below $50K could send Bitcoin quickly under $20K.
• Whales and sharks sold 24,602 BTC, while micro wallets added only 61 BTC.
• CryptoQuant says monthly demand is contracting by 232,000 BTC as conviction fades.

Peter Schiff has renewed his bleak call on Bitcoin, warning that a break below $50,000 could trigger a rapid slide to $20,000 or lower. The warning came as BTC traded near $67,000 at press time, down more than 4% in 24 hours and over 14% in 30 days.

The selloff has shifted attention to on-chain distribution. Santiment data showed Bitcoin down 13% over the past week, while wallets holding 10 to 10,000 BTC sold 24,602 coins.

Schiff Warns $50K Break Could Trigger A Faster Bitcoin Slide

Schiff said the issue was not only the decline but also the mood around the asset. He argued that there was “way too much complacency” for the mar…

Read The Full Article Bitcoin Whales Dump $1.65B as Schiff Predicts a Fall Below $20K On Coin Edition.