Bitcoin is hovering just below $60,000, a modest dip of roughly 1.5 % over the past day, while market sentiment has plunged into “Extreme Fear” on the Fear & Greed gauge. In this environment, any new supply‑side move can have an outsized impact on price dynamics.
Peter Schiff, a long‑time critic of crypto, has flagged Strategy’s recently announced “BTC Monetization Program” as a potential catalyst for further downside. His argument is straightforward: if Bitcoin continues to lose value, the program’s design may compel Strategy to liquidate additional holdings, adding fresh selling pressure to an already fragile market.
For retail participants, the immediate concern is whether Bitcoin can hold the $60 k support level that recent price analyses have highlighted. A breach could open the path toward the $50 k region that several on‑site predictions have already flagged as a possible new low. Conversely, a rebound in sentiment—moving the Fear & Greed index out of “Extreme Fear”—might temper the sell‑off and give buyers a chance to step in.
The next few days will likely be shaped by two forces: the technical resilience of Bitcoin around key support zones and any macro‑economic news that could shift market mood. Keeping tabs on both price action and sentiment indicators will help readers gauge whether the “death spiral” scenario Schiff warns about is materialising or remains speculative.