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Withdrawal Floor: Peter Schiff Warns $60K is a "Jail Door" as $BTC Launches to $74,720 🐻🚨
Loyal gold enthusiasts and crypto skeptics, Peter Schiff, returns with a new warning, rejecting the popular consensus that the low in February at $60,000 marks the cycle bottom for sure. 🚀
After an early Saturday drop of 3.29% that pulled $BTC down to $74,720, Schiff describes the support line $60K as a "jail door," warning that a collapse would trigger disaster, falling far below.
From a technical perspective, Bitcoin's failure to hold above the True Market Average ($78,300) in May has forced a short-term trend reversal. 🛡 The 30-day institutional cost base at $78,200 has officially turned into heavy resistance above.
The short-term market structure indicates that the most critical defense line currently is at $71,400 — the average cost basis for investors accumulating during the February–April consolidation phase.
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