Schiff Sees Bitcoin Support at $10K Amid Saylor's Debt Strategy

Bitcoin (BTC) bears have received a boost from Peter Schiff, who questioned Michael Saylor's strategy of refinancing debt to continue buying BTC if prices fall. According to Schiff, Bitcoin could find support near $10,000 based on long-term chart analysis.

Schiff criticized Saylor's plan to refinance debt and continue buying Bitcoin if prices drop sharply, calling it a 'bearish' move. He also questioned the credibility of Bitcoin if it were still trading at $8,000 in 2030, which would represent a 94% decline from its record high of over $126,000 seen in October.

Meanwhile, a Stocktwits poll showed that many traders expect Bitcoin to remain below $80,000 in the near term. The Crypto Fear & Greed Index has also dropped to record lows last seen during the March 2020 crash.