- Bitcoin hit a record $123,000, with volume surging and realized cap passing $1 trillion.
- Peter Schiff argues the rally reflects dollar weakness, not Bitcoin strength, and calls it speculative hype.
- BTC may be cooling near $117K, but long-term momentum—and the debate around it—is far from over.
Bitcoin’s on an absolute tear right now. Fueled by Wall Street appetite and retail frenzy, the king of crypto just hit an eye-watering $123,000. Yeah, that’s not a typo.
But while price keeps flying, things are settling a bit too. After the rush, BTC has cooled down near the $117K zone. Exchanges are still soaked in volume, though—it’s not quiet out there by any stretch.
It’s not just short-term hype either. Long-term holders, retirement savers, altcoin tourists, even corporate giants like Michael Saylor’s Strategy Inc.—everyone’s up big. Realized market cap? Cracked $1 trillion. That’s the total value of all BTC, priced at its last on-chain move. Insane.
Schiff Throws Shade, Again
Of course, Peter Schiff had something to say. The eternal gold bug and Bitcoin skeptic couldn’t help himself.
Right as Congress gave a little love to crypto with the GENIUS Act (yep, that’s what they’re calling it), Schiff called the whole thing a “pump job” designed to help early Bitcoin holders dump their bags. Classic Schiff move.
But here’s the kicker—he’s not even blaming Bitcoin. According to him, BTC’s rally isn’t a sign of strength. It’s the U.S. dollar collapsing in slow motion.
Not a Global Win?
Schiff’s main argument? Bitcoin’s flying high only in dollars. He says it’s not hitting new highs in euros or Swiss francs. And that, to him, spells weakness in greenbacks—not magic internet money.
He claims crypto fever in the U.S. is spiraling into full-blown mania. And honestly? He’s not wrong that dollar weakness makes hard assets like BTC shine. But calling Bitcoin a “Ponzi”? That’s… well, Peter being Peter.
Whether you’re all in or watching from the sidelines, it’s clear Bitcoin’s latest move isn’t going unnoticed. Love it or hate it, this thing’s rewriting the financial playbook, one parabolic candle at a time.
