Peter Schiff Predicts $10,000 Support as Bitcoin Price Hits Max Pain

Key Insights:

• Peter Schiff anticipates the Bitcoin price will find support around $10,000, but cautions the coin could drop further.
• BTC price is approaching its “max pain” level, with traders facing potential significant losses.
• BIP 360 introduces updates to protect Bitcoin from future quantum computing risks, ensuring long-term security.

Bitcoin (BTC) price is back in the spotlight after Peter Schiff said long-term charts show possible support near $10,000. Despite this call, he said he doubts this level will hold. At the same time, traders are debating whether the BTC market has reached “max pain” after record realized losses last week.

Peter Schiff’s Prediction on Bitcoin Price Support

Peter Schiff stirred debate after sharing his view on the long-term Bitcoin price chart. He said the chart suggests there could be initial support around $10,000. His comment quickly drew attention from both critics and supporters.

One user asked him directly if $10,000 was the level where he would buy. Schiff replied that he only pointed to initial support. He made it clear he does not expect $10,000 to hold over the long term.

Another user reminded him that he had previously suggested Bitcoin could fall to zero. Peter Schiff answered that this outcome is likely correct in his view, but it may take many years to happen.

Bitcoin Price Prediction | Source: Peter Schiff

His remarks reflect his long-standing criticism of Bitcoin. He has often argued that the asset has no real value and depends mainly on speculation. By pointing to a $10,000 level, he did not signal confidence. Instead, he described it as a possible stopping point before further decline.

The reaction online was mixed as some traders see the comment as another example of his bearish stance. Others view it as a sign that even strong critics believe Bitcoin may not collapse overnight. The discussion comes as the market faces heavy selling pressure and rising uncertainty.

The Bitcoin Price Max Pain Analysis

While Schiff discussed long-term support, market analysts focused on recent losses. Crypto commentator Nic described last week as the largest realized loss event in Bitcoin history, totaling $3.2 billion.

The BTC price realized loss is an on-chain metric. It measures the value of coins that moved at a lower price than when they last changed hands. In simple terms, it tracks how much money investors actually locked in by selling at a loss. The sharp drop led some traders to ask whether the market is near what many call “max pain.”

Bitcoin Realized Loss Analysis | Source: Nic

This term refers to a point where most weak holders have already sold, often after heavy losses, leaving fewer sellers behind. In response to Nic’s post, one trader said the Bitcoin price could fall to $65,000 and possibly $55,000. Nic agreed that $55,000 seemed like a reasonable target.

The exchange shows that not everyone believes the worst is over. Even after a record realized loss, expectations of further downside remain. Bitcoin has faced strong volatility in recent sessions, and confidence appears fragile. As of writing, Bitcoin price was trading at $67,216.01, down by 6.04% in the past week.

Bitcoin and the Crucial Move to Address Quantum Risk

Beyond BTC price action, developers are also working on technical upgrades. Anduro reported that an updated version of BIP 360 has been merged into the official Bitcoin BIP GitHub repository.

The update introduces Pay-to-Merkle-Root (P2MR). This proposed output type removes Taproot’s quantum-vulnerable key path while maintaining compatibility with Tapscript and script trees.

Bitcoin Quantum Resistance Milestone | Source: Anduro

The proposal also lays the groundwork for future post-quantum signatures. It is designed as a soft fork, meaning it would not affect existing Taproot outputs. The change is opt-in and does not force current users to move funds. In addition, Isabel Foxen Duke was added as a co-author.

According to the announcement, this step was meant to ensure the proposal is clear and understandable beyond the developer community. The update responds to criticism that Bitcoin developers have not taken quantum threats seriously.

While quantum computing risks remain a long-term concern, the move signals that work is underway to prepare for possible future challenges.

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