- Bitcoin is under renewed pressure as Peter Schiff warns a break below $50,000 could trigger a much deeper sell-off.
- Rising ETF outflows and weak demand near key levels are adding to concerns about Bitcoin’s near-term outlook.
Peter Schiff warned investors that bitcoin could face a much deeper crash if key support levels fail. Schiff’s comments come at a time when market sentiment is already fragile, with ETF outflows and weak demand raising concerns about Bitcoin’s near-term direction.
Schiff Warns $50,000 Breakdown Could Trigger Sharp Decline
In a recent post on X, Schiff argued that a drop below the $50,000 level would likely open the door to a more severe sell-off. According to him, such a move would represent an 84% decline from Bitcoin’s all-time high of $126,000, reached last October. While Bitcoin has experienced steep corrections in previous cycles, Schiff insisted that the current environment makes this downturn potentially worse.
If Bitcoin breaks $50K, which looks likely, it seems highly likely it will at least test $20K. That would be an 84% drop from its ATH. I know Bitcoin has done that before, but never with so much hype, leverage, institutional ownership, and market cap at stake. Sell Bitcoin now!
— Peter Schiff (@PeterSchiff) February 19, 2026
Schiff has long maintained a bearish stance on Bitcoin, repeatedly questioning its long-term value and role in global finance. Earlier this month, he pointed to unrealized losses held by corporate Bitcoin adopters as evidence that downside risks remain elevated. When pressed about the technical basis for his outlook, Schiff avoided specifics, instead emphasizing Bitcoin’s history of sharp booms followed by painful busts.
He also reiterated his view that Bitcoin is unsuitable as a reserve asset for central banks, citing its volatility and the potential market disruption caused by large-scale holdings. While governments and institutions have experimented with Bitcoin-related products, Schiff believes these positions remain relatively small and could be quickly unwound if prices fall sharply.
Bitcoin ETFs Record Continued Outflows
Adding to the bearish tone, Bitcoin spot ETFs have continued to see capital exit the market. Data from SoSoValue shows that total net outflows reached $165.76 million in the latest session, marking the third consecutive day of withdrawals. The largest share of these outflows came from BlackRock’s IBIT fund, which alone recorded $164.06 million in net outflows.

Meanwhile, Bitcoin’s price slipped another 2% during the same period, though it managed to hold above the $67,000 level. Analysts suggest that macroeconomic data and ongoing uncertainty are keeping buyers on the sidelines.
Demand Weakness Near Key Levels
On-chain analytics firm Glassnode recently noted that Bitcoin is undergoing a critical test around the $70,000 level. According to the firm, repeated attempts to reclaim this zone since early February have resulted in demand exhaustion. Low liquidity conditions are also making it difficult for Bitcoin to move into the $70,000–$80,000 range.
With investors also awaiting a key U.S. Supreme Court verdict on Trump-era tariffs, uncertainty remains high. Any negative outcome could further weigh on Bitcoin and the broader crypto market in the days ahead.
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