Schiff: Bitcoin Is Tanking

utoday04-12

Gold bug and notorious cryptocurrency skeptic Peter Schiff is once again taking aim at Bitcoin on X (formerly Twitter), gloating over the cryptocurrency's sudden price drop. "Is there any news, or is ...

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However, at exactly 01:00 on Sunday, April 12, a massive red candle was printed. The asset plummeted from an open of roughly $73,098 down to a wick low of $71,349 in short order. The price has since stabilized slightly, but the bulls have once again failed to push it to the much-coveted $75,000 level. Bitcoin investor Fred Krueger has mocked Schiff's decade-long crusade against the digital asset. \"Peter Schiff watching a 5% dip in Bitcoin after a 6000x return since he started trashing it,\" Krueger wrote. “'Clearly the entire asset class was a mistake.'”A vicious squeezeThe drop might not be catastrophic, but it has still resulted in a massive liquidation spree. Over the past 24 hours, a staggering 118,652 traders were liquidated across the broader crypto market. In that 12-hour span, $189.85 million was vaporized. Over-leveraged bulls were caught completely off guard by the drop, with long liquidations making up $132.80 million of that total.The largest single casualty of the event was a massive $4.00 million BTC/USD liquidation order executed on Bybit.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2627106255","isCrawlerRequest":true}