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Bitcoin bounced off support at $62,525 yesterday after a period of heavy selling, reflected by a sustained decline. That latest bounce portrays a relief rally, which extended about 3.5% in the early hours of Wednesday, with the cryptocurrency rallying to $66,311 before pulling back slightly to trade at $65,384 at the time of writing, according to data from TradingView.

Peter Schiff reignited his long-standing criticism of Bitcoin on Wednesday as the asset traded approximately at $66,214.78, according to CoinMarketCap. He said long-term charts suggest initial support near $10,000. Schiff also mocked MicroStrategy executive chairman Michael Saylor’s plan to refinance debt to keep buying Bitcoin if prices fall to $8,000. His remarks come as Bitcoin remains sharply below its $126,000 record high from October and as volatility continues to pressure crypto-linked equities.

Bitcoin has faced intense volatility in recent weeks, dropping near $60,000 after trading near the $100,000 level not long ago. Analysts say the sharp swings show a mix of market uncertainty, institutional repositioning, and recurring weekend selling pressure. At the time of writing, Bitcoin is trading below the $70k mark.

The cryptocurrency market extended its decline, with Bitcoin and major altcoins falling sharply as heavy selling and forced liquidations accelerated losses.

As worries over government debt and currency stability resurface, asset managers are once again reassessing how to protect purchasing power. Assets with limited supply, from gold to digital assets, are back in focus.

The crypto market is having another rough day, with total market value sliding to $2.57 trillion, down nearly 4% in 24 hours. Bitcoin has slipped to around $75,900, putting it 13% lower for the week, while Ethereum is hovering near $2,226 after losing more than 21% in seven days. The pain isn’t limited to the big two; XRP, Solana, BNB, Dogecoin, and Cardano are all deep in the red, showing that selling pressure is spreading across the market.