Schiff Warns of Coming Bitcoin Selloff as US Stock Market Faces Correction

Bitcoin has lost more than half its value since reaching a record high at over $120,000 last October. The slide started when investors began pulling back from riskier assets amid geopolitical tensions and uncertainty over interest rates.

Economist Peter Schiff argued in a post on X that the recent weakness may be far from over, saying 'I expect that to change as the correction spreads.' He believes a much bigger selloff in Bitcoin is coming, citing the broader U.S. stock market's overpricing and tech sell-offs.

Schiff's argument reflects how Bitcoin has increasingly traded alongside other risk assets during periods of market stress, moving in tandem with high-growth technology stocks as investors adjust expectations for interest rates and economic growth.