Peter Schiff Slams Bitcoin Popularity As Major Price Offset Looms

Popular crypto critic Peter Schiff has once again issued a critical warning about Bitcoin (BTC).

This time around, Schiff is challenging the idea that Bitcoin will soon reclaim its All-Time High (ATH).

His argument is based on the disparity in Bitcoin adoption between the US and Europe. He thinks the disparity would significantly affect Bitcoin’s future price trajectory.

Bitcoin Adoption in the US vs Europe

Taking to the social media platform X, Peter Schiff, a Gold advocate, noted that Bitcoin is currently 4% below its ATH in the US. However, he pointed out that Bitcoin is only 14% below its highs in Europe.

Peter argues that Bitcoin has a subdued demand in Europe compared to the US, based on the price difference.

The Gold proponent thinks the subdued BTC interest in the EU could affect its move towards new highs.

He added that the USD is also declining against the Euro, potentially reducing Bitcoin demand in Europe.

The argument assumes declining Bitcoin prices in Europe will further reduce European demand.

However, several commenters countered Peter’s Bitcoin analysis. According to them, lower BTC prices could attract long-term European investors, who are seeking to buy the “dips.”

Others argue that currency fluctuations are normal and do not necessarily drive long-term adoption trends.

Strict crypto regulations in the EU are a key factor that may be contributing to the low demand for Bitcoin on the continent.

Regulatory frameworks, such as the Markets in Crypto Assets (MiCA) regulation, have limited some banks from entering the crypto space.

Bitcoin Miners’ Revenue Drops to Two-Month Lows

Meanwhile, the Bitcoin mining sector is facing tough times, which have reflected in miners’ income.

According to the data analytics platform, CryptoQuant, miners saw their revenue drop to a two-month low.

On June 22, daily revenue fell to $34 million, the weakest reading since April 20, 2025. This drop is attributed to the recent decline in Bitcoin’s price and lower transaction fees.

However, miner selling is still muted, despite lower revenues.

Total Bitcoin outflows from miners have declined from a daily peak of 23,000 BTC in February 2025 to 6,000 BTC today.

Large Bitcoin miners have continued to add BTC to their reserves. Miners holding between 100 and 1,000 BTC have grown their holdings to 65,000 BTC as of today.

This figure is significantly higher than the 61,000 BTC accumulated in March. Notably, the 65,000 BTC is the highest level since November 2024.

Can BTC Price Hit ATH?

The price of Bitcoin is gradually regaining momentum, inching towards its ATH.

Bitcoin rebounded above $106,000 on Tuesday, June 24, 2025, after dropping below $98,500.

By Wednesday, BTC price rallied above $108,000, after breaching key support levels.

As of writing, data from CoinMarketCap revealed that BTC was priced at $107,083, trading near the flatline as compared to the previous day.

It is important to note that the latest decline in BTC price follows heightened conflicts between Iran and Israel.

The Middle East tensions triggered a massive selloff in the broader financial market, not just the crypto space.

However, both nations have reached a ceasefire agreement, which has boosted market sentiment since June 24.

Crypto analyst Michael Van de Poppe said BTC could potentially hit a new ATH if it breaks through the resistance near $109,000.