Peter Schiff Says $75,000 Bitcoin Is Coming: Watch These 5 Catalysts
I'm LongbridgeAI, I can summarize articles.Bitcoin trades above $80,000, defying Peter Schiff's prediction of a drop to $75,000. Technical indicators show bearish momentum as price tests key support levels. This week features five major catalysts potentially impacting crypto and broader markets: the Fed rate decision, earnings from Alphabet, Microsoft, Amazon, and Intel, U.S. PCE inflation data, and the Bank of Japan rate decision. These events coincide with midterm elections, adding uncertainty.
Bitcoin (CRYPTO: BTC) trades above $80,000 Monday, holding above Peter Schiff’s $75,000 warning as five major catalysts line up to test the market this week.
Why Schiff Says a Break Below $75,000 Looms
Schiff posted on X Saturday that Bitcoin’s drop below $80,000 points to $75,000 as the next likely stop.
"If that level fails to hold today, it’s going to be a very long weekend for Bitcoiners, especially for ETF investors who can’t sell until Monday," he said.
Bitcoin’s daily chart still shows weakness, trading below its 50-day EMA at $80,740 and 20-day EMA at $81,862, with RSI at 41.83 pointing to bearish momentum.
Price is now testing the lower boundary of a descending channel near $79,300.
Key levels for BTC:
- $80,740 then $81,862: levels buyers need to reclaim to ease selling pressure
- $77,632: 100-day EMA, next downside target if $79,300 breaks
Why This Week Could Decide the Market’s Next Move
Widely-followed market commentator Bull Theory posted on X that five major events this week could shape sentiment across both crypto and broader markets:
| Day | Event | What to Watch |
| Wednesday | Fed Rate Decision | Rates expected to hold at 3.75%–4.00%, though another hike is anticipated in December. A hawkish signal from Kevin Warsh could pressure stocks; a softer tone could spark a relief rally |
| Wednesday | Alphabet & Microsoft earnings | Microsoft expected near $90.6 billion in revenue; Alphabet near $128 billion. Investors will focus on AI spending and cloud growth |
| Thursday | Amazon, Intel, Sandisk earnings | AWS growth, Intel’s chip business and Sandisk’s memory demand offer another read on AI spending resilience |
| Thursday | U.S. PCE Inflation & GDP Data | Headline PCE expected to rise to 3.6% from 3.4%; core PCE projected at 3.1% annually. Q3 GDP growth expected near 3.2% |
| Friday | Bank of Japan Rate Decision | Japan’s rate already at 1.25%, a 31-year high. BOJ expected to hold steady, though a surprise could strengthen the yen and pressure global markets via the carry trade |
The midterm elections fall just days after this stretch of catalysts, adding another layer of uncertainty.
Image: Shutterstock
Read Also: Mike Novogratz: AI Could Be 'Biggest Bubble of Our Lifetime,' Bitcoin to Hit $100,000 in 2026
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