- Peter Schiff revived an old Bitcoin post and added fresh comments attacking BTC on April 27.
- Schiff said Bitcoin leads investors “down a path to financial ruin” and argued high-yield products pay better.
- Bitcoin traded at $77,699, down 1.24%, after a third rejection in eight sessions near $79,400.
Peter Schiff returned to Bitcoin criticism on April 27 with a series of posts that revived one of his old bearish calls and added new attacks on the asset’s long-term value. His remarks landed as Bitcoin was already struggling to break through the same resistance zone that had capped rallies several times this month.
The timing kept attention on the contrast between Schiff’s message and Bitcoin’s current market structure. BTC is still holding well above its March low, yet sellers have defended the $79,000 to $79,400 band three times in eight sessions, leaving the market caught between improving momentum and a ceiling that still has not broken.
Schiff Revives Old Bitcoin Warning
A widely shared post on X circulated an old Peter Schiff tweet from November 2018, when he warned that buying Bitcoin below $3,800 was not a bargain and said the price could eventually fall to $750. On April 27, Schiff responded to that resurfaced post with a short remark: “More like fine wine.”
He did not stop there. In separate posts on the same day, Schiff wrote that “Rates are 4% now. 11.5% is more than the lowest quality junk bonds pay.” He also posted, “That you are leading down a path to financial ruin.” Taken together, the comments extended the same line of criticism he used earlier this week when he attacked Strategy’s yield-driven Bitcoin-linked financing structure.
BTC Still Cannot Clear $79,400
Meanwhile, Bitcoin’s own market action remained focused on resistance rather than trend failure. Coin Edition reported that BTC traded at $77,699 on April 27, down 1.24%, after touching a 12-week high of $79,399 before sellers pushed back again during the Asian session.
Notably, it was the third reversal in eight sessions from the same $79,000 to $79,400 zone. The report said the descending trendline from the November 2025 peak runs directly through that band, while recent buyers nearing breakeven around $80,000 have added more selling pressure.
However, the daily structure has not turned bearish yet. The Supertrend remains bullish at $72,020, while the SAR sits below the price at $74,297.
Macro Events Now Shape the Next Move
Schiff’s posts added noise to an already tense setup, but the bigger near-term drivers are still macro events. Coin Edition said traders are watching this week’s Federal Reserve and European Central Bank rate decisions, alongside earnings from the four largest U.S. companies by market value.
Moreover, derivatives data show the market has not fully committed in either direction. Futures volume jumped 87.46% to $57.18 billion, while open interest rose only 1% to $56.88 billion, pointing to heavy churn rather than a clean directional build.
Funding rates stayed negative at -0.13% on a seven-day basis, which means a break above resistance could still trigger a fast squeeze. Nevertheless, repeated failures at $79,400 keep the current range intact, and Schiff’s renewed attacks arrived right as that hesitation became more visible.
Related: Bitcoin Critic Peter Schiff Calls Strategy an “Obvious Ponzi,” Targets SEC Oversight
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