Bitcoin rebounded after falling below $80,000, proving Peter Schiff's bearish prediction wrong.

On October 24, Bitcoin fell below $80,000 for the first time since September 18, sliding to a five-week low of approximately $79,000. Peter Schiff posted on X that Bitcoin had broken down, predicting a drop to $75,000 by the weekend, and stating that ETF investors would face a long weekend. Bitcoin subsequently rebounded quickly, regaining $80,000 and even touching $81,000 at one point, proving Schiff's bearish prediction ineffective.