Bitcoin has climbed back above $64,000 in recent sessions, pushing toward the $65,000 mark and drawing a familiar warning from economist Peter Schiff. The Euro Pacific Capital chief and persistent Bitcoin skeptic described the rebound as another chance for long-term holders to sell rather than a signal of sustained recovery.

In a post on X, Schiff questioned the drivers behind the latest advance and pointed to $65,000 as a key resistance zone. He argued that potential gains above that level appear limited while downside risks remain substantial.

At the time of the comments, Bitcoin traded near $64,405, up roughly 2.5 percent over the prior 24 hours according to market data. Schiff simultaneously highlighted strength in precious metals, noting gold prices above $4,430 and silver above $66.25, consistent with his long-held preference for those assets as stores of value.

Macro Backdrop Shifts as Rate-Hike Odds Decline

The cryptocurrency’s recent gains coincide with a notable change in expectations for U.S. monetary policy. Goldman Sachs chief economist Jan Hatzius assessed a September Federal Reserve rate increase as very unlikely, citing softer employment growth, weaker consumer spending and signs of moderating inflation.

Interest-rate futures markets have adjusted accordingly. Traders now assign approximately a 30.6 percent probability to a rate hike next month, a sharp drop from levels seen only a week earlier. Lower odds of tighter policy typically ease pressure on borrowing costs and can improve conditions for risk assets such as Bitcoin.

Market participants continue to monitor how price behaves around the $65,000 threshold. A decisive move higher could reinforce the recovery narrative, while repeated rejections might allow sellers to regain control of short-term direction.

A Consistent Skeptical Stance

Schiff’s criticism of Bitcoin stretches back more than a decade. He has publicly labeled the asset doomed or dead on numerous occasions since 2011, when it traded near $17. Earlier in 2026 he suggested that a break below $50,000 could eventually drive the price toward or below $20,000—a scenario that has not occurred, with Bitcoin remaining above $60,000.

His latest remarks arrive as Bitcoin tests a level that has previously acted as a technical barrier. Whether the current rebound proves temporary or marks the start of a broader advance will depend in large part on incoming economic data and the Federal Reserve’s next policy decisions.

For now, attention remains fixed on the $65,000 zone and the interplay between softening rate expectations and Schiff’s longstanding bearish view.