Bitcoin (BTC) Stabilizes After Dipping Below $75K, Peter Schiff Calls 10-Year Treasury Yield Spiking Towards 4.5% a Signal of Looming Instability

Peter Schiff, a well-known economist and Bitcoin critic, flagged the 10-year Treasury yield nearing the critical 4.5% mark as a signal of looming financial instability.

Economist Peter Schiff, a vocal critic of Bitcoin, has pointed to the 10-year Treasury yield nearing the critical 4.5% mark as a key indicator of impending financial instability.

With US stocks facing pressure and the dollar struggling, interest in gold for its traditional role as a hedge is surging once again.

What Happened: Schiff, a well-known economist and Bitcoin critic, took to X, formerly Twitter, to highlight the 10-year Treasury yield nearing the 4.5% level. He described this as a “critical level.”

At the same time, Schiff pointed to China reducing its U.S. Treasury holdings in the second quarter to the lowest since 2012.

Instead of Treasuries, the Eastern nation is diversifying into gold.

Key Levels to Watch: Treasury yields are usually expected to fall during times of stress as investors rotate out of equities and other risky assets into fixed income. However, in a surprising turn, Treasury yields are increasing.

This comes as China, one of the largest foreign holders of U.S. debt, has been offloading Treasuries and simultaneously ramping up gold buying.

The world is diversifying away from the dollar, signaling a strong demand for traditional safe-haven assets.

Bitcoin Stabilizes After Sharp Drop: Bitcoin (BTC/USD) price is showing signs of stabilization after a sharp decline that saw it fall below the $75,000 level earlier in the week.

Now trading at $82,140, Bitcoin is showing signs of strength as large investors, known as whales, are accumulating the cryptocurrency.

According to data from crypto analytics firm Glass Node, the total Bitcoin held by addresses with 100 to 10,000 coins has reached its highest level since November 2024.

This pattern of accumulation by large wallets is often seen as a bullish indicator in the cryptocurrency market.

Despite the recent price volatility, which saw Bitcoin drop from highs of over $86,000 to lows of $74,600, the flagship cryptocurrency remains a primary asset for those seeking to hedge against the traditional financial system.

From a technical analysis perspective, Bitcoin is currently attempting to break through the next level of resistance at $82,923. A successful breakout could propel Bitcoin towards the next resistance levels at $84,704 and $86,469.

However, a crucial factor to watch is the 200-period Exponential Moving Average (EMA) on the 4-hour chart, which stands at $83,909.

Bitcoin Snapshot: BTC is trading at $82,140 at press time, showing resilience after hitting lows of sub-$75K.

Bitcoin is showing strength as whale investors are accumulating the cryptocurrency.

On-chain data reveals large wallets accumulating Bitcoin.

Next levels of resistance for Bitcoin are at $82,923, $84,704, and $86,469.

The 200 EMA on the 4-hour chart provides technical support at $83,909.