In rare cases, longtime Bitcoin critic Peter Schiff appears to have eased his stance on Bitcoin.
“Never say anything particularly when it comes to Bitcoin prices. I learned that lesson,” Schiff sparked X’s response in a recent tweet.
Never say anything, especially when it comes to Bitcoin prices. I learned that lesson.
– Peter Schiff (@peterschiff) June 10, 2025
Bitcoin prices exceeded $110,000 on Monday, sparking a wider rally on digital assets for the first time in about two weeks. The top cryptocurrency by market capitalization has recently traded around $109,257, an increase of 1.81% in the past 24 hours.
BTC has recovered nearly 5% over the past seven days after reaching a minimum of $100,377 on June 5th. At current pricing, Bitcoin is 2.38% below the all-time high of $111,814, which reached May.
Schiff, a vocal gold advocate and frequent BTC skeptic, has long questioned the value and sustainability of Bitcoin. But even one of its solid critics seems to be tempering his stance as Bitcoin continues to go against expectations.
Bitcoin shorts have been settled
According to GlassNode, Bitcoin shorts were liquidated as prices rose from $105,000 to $107,000 within four hours, probably due to a wave of short liquidation. The total short liquidation increased from $105,000 to $359,000 (24-hour SMA). Last week’s negative funding rate showed an increase in anorexia, and those bets were compressed.
Yesterday’s short liquidation of BTC futures reached $5.74 million, with a 24-hour SMA of $768,252.14. Meanwhile, BTC’s longside premium has risen significantly over the past 12 hours, reaching $270,480.
Derivatives show potential overheating (a rise in short liquidation, a rise in long-standing premiums, and an increase in open interest), but the increase in funding rates is only minor. Permanent futures funding rates show slight increases, with values ranging from 0.0003% to 0.023% and average 0.0016% for the exchange.
