Bitcoin Falls to $68k as Peter Schiff Warns of Long-Term Bear Market, Says BTC’s Downtrend Is Far from Over

Bitcoin has seen another slump amid a broader market sell-off, temporarily sinking to $68,000 before rebounding to the $69k level. The asset currently trades at $68,870, down 9.2% over the past week, as massive crypto liquidations hit long positions amid renewed market volatility. Dropping below the $73k support triggered a second leg down following recent waves of liquidations driven by recent U.S. midterm elections and the Binance hack, which altered market sentiment. Statistics indicate that this is the first time BTC has plummeted below $70k since August.