Shenchao TechFlow News, June 30 – Economist and gold advocate Peter Schiff posted on X platform, stating that the market generally believes it is "almost impossible" for Bitcoin to drop to $20k, but this judgment lacks basis. Bitcoin fell below the $20k level about 3.5 years ago, which is not a distant time, so the possibility of returning to that price range cannot be ruled out. It is not uncommon for assets to experience significant pullbacks within short cycles in financial markets.

Peter Schiff further stated that since Bitcoin is more volatile than most stocks, it is "completely reasonable" to see a correction of similar magnitude under changes in macro or liquidity conditions, and the market should not underestimate downside risks.