Bitcoin price today: dips below $112k, near 6-wk low despite Fed cut bets
U.Today - Peter Schiff, a long-time critic of Bitcoin, has once again issued an unpleasant statement for all BTC holders: “Bitcoin was born out of the financial crisis of 2008. Ironically, the financial crisis of 2025 will kill it."
In addition to touching on the foundations of Bitcoin's existence, this statement makes a forecast about its grim future. The systemic flaws made public during the 2008 financial crisis served as a direct inspiration for the creation of Bitcoin in 2009.
The Bitcoin whitepaper, which offered a decentralized peer-to-peer currency that is impervious to centralized manipulation, was published in response to the failure of major banks and the general mistrust of traditional finance. In this way, Bitcoin served as a protest against the fiat system's shortcomings. In 2025 economic tremors are once again affecting global markets. An international financial crisis is feared again due to interest rate volatility tightening credit requirements and geopolitical unrest.
Schiff contends that this setting will be Bitcoin's breaking point rather than its testing ground. He makes the straightforward argument that investors will seek refuge in conventional safe havens like gold and cash, not erratic cryptocurrencies, during periods of severe distress. Despite the fact that Schiff's reasoning makes sense from a traditional economic perspective, it is crucial to keep in mind that Bitcoin has survived several financial upheavals in the last 10 years and has developed into a valuable asset and technological advancement.
A stronger foundation than during previous corrections might be provided by institutional adoption regulatory frameworks and growing use cases. Technically speaking Bitcoin has recovered from recent lows and is now trading close to $82,000. With the help of robust buying volume and an RSI shift toward neutral territory, momentum is growing.
But if market confidence does not improve, the rally may be capped by overhead resistance close to the 100-day and 200-day moving averages (at $85,000 and $87,800). It is unclear whether Bitcoin will be a victim or a hero of the 2025 crisis. There is no doubt, though, that it is up against one of the most significant tests of its life.