Bitcoin News: Peter Schiff Says ‘Buy BTC’ As Whales Cash Out
By: the coin republic|2025/05/16 00:00:15
0
Share
Key Insights:Bitcoin news and data shows, long-term Bitcoin holders increased realized profits by over 71% since March.Short-term holders flipped to profit after BTC crossed $99,000.Peter Schiff slams BTC treasury firms amid rising whale exits.Peter Schiff, one of Bitcoin’s most vocal critics, revealed he now owns BTC through his son’s portfolio, just as whales began exiting around $64K, raising questions about sentiment shifts and timing in the crypto market.Peter Schiff Takes U-Turn on Bitcoin, Speculations MountPeter Schiff, a long-time critic of Bitcoin (BTC), shocked the crypto community by admitting he now holds BTC indirectly.In a May 14 post on X, Schiff shared that he “finally bought some Bitcoin,” clarifying that the asset was in his son Spencer Schiff’s portfolio. “Spencer talked me into it,” he wrote. The economist, known for his vocal support of gold and scathing criticism of BTC, added: “I figured if you can’t beat ’em, join ’em—at least a little.”Peter Schiff reignites Bitcoin investment debate. Source: XThe post went viral, with traders interpreting it as a psychological milestone for crypto adoption. Schiff’s comment marked a rare tone shift from someone who once called BTC “fool’s gold.”Bitcoin News: Long-Term BTC Holders Secure 71% Profit Surge Since MarchData from CryptoQuant showed long-term holders (LTHs)—wallets that hold BTC for more than 150 days—recorded a 71.33% jump in realized profits from March 12 to May 13.Carmelo Alemán, an on-chain analyst at CryptoQuant, noted that the Long-Term Holder Spent Output Profit Ratio (LTH-SOPR) rose from 1.3273 to 2.27409. The metric reflects how much profit long-term investors make when moving their coins.Bitcoin whales book profits as SOPR spikes. Source: CryptoQuantThe data suggests a $50,000 BTC investment made before the March low could now yield over $113,000, locking in around $64,000 in profits. This trend signals that whales are cashing out at high margins, often a behavior seen in pre-distribution phases.“Historically, these SOPR peaks align with periods where experienced holders offload before corrections,” Alemán explained.While there’s no confirmation of a full market top, these moves suggest that profit-taking is underway as BTC continues to trade near range highs.Short-Term Holders Add Pressure as Sentiment ShiftsShort-term holders (STHs) also returned to profit territory starting May 8, when BTC price crossed above the $99,000 level. Their SOPR has remained above 1 since, indicating most transactions are happening at a gain.Market observer Darkfost commented:“Short-term holders being in profit is essential to sustaining bullish momentum.”Short-term holders return to profit territory. Source: CryptoQuantTypically, when STHs find themselves in the green, they are more likely to hold longer, fueling further rallies. However, when SOPR values reach higher levels, especially above 1.03, the incentive to sell builds rapidly.Darkfost noted the market hasn’t reached that point yet, suggesting the current structure still favors buyers. “It feels like we’re just getting warmed up,” he said.Bitcoin News: BTC Price Chart Builds Bullish Base Above $101KBitcoin continues to respect a rising support line from early May, hinting at further upside. TradingView data showed an ascending triangle pattern that could lead to a breakout above $106,000.BTC/USD 1-H price chart. Source: TradingViewThe 50-hour exponential moving average (EMA) sits near $103,360, while the 200-hour EMA holds at $101,919. Bitcoin remains in a tight channel between both EMAs, indicating neutral momentum.Meanwhile, the Relative Strength Index (RSI) remains near 43.75—well below overbought conditions.Schiff’s criticism, while persistent, contrasts with sustained institutional and retail interest. Notably, firms like MicroStrategy continue to add BTC to their treasuries, reinforcing long-term demand despite price fluctuations.“If you want to buy Bitcoin, then buy Bitcoin,” Peter Schiff concluded, warning investors against BTC-heavy equities.Still, with whales securing profits and short-term holders staying green, BTC could soon face a directional move. BTC Price’s breakout above $106,000 could open the path to $110,000. However, rising sell pressure may also test the $101,900 support zone.The post Bitcoin News: Peter Schiff Says ‘Buy BTC’ As Whales Cash Out appeared first on The Coin Republic.
You may also like

What can we expect from the crypto market after the SEC and CFTC join forces?
Regulation is the starting point, and the bull market depends on the entry of traditional capital.

Hawkish Signal in Tightening Mode | Rewire News Brief
Maintaining the interest rate unchanged is within expectations; beyond expectations is the dot plot

x402 and AI Agents: An Emerging Data Economy
x402 How to Perfectly Combine with Data Aggregation and Management?

Illustration: Despite 6 consecutive interest rate cuts, the interest rate outlook is trending upward
Nobody knows the answer, including the Fed itself

SpaceX is playing hardball with Nasdaq at the negotiation table, while Hyperliquid has already flipped the table.
A Cross-Section of Capital Market Gravity Direction Change

Bloomberg: Once Blacklisted by the U.S., Bitmain Finds a New Powerful Backer
Bitmain has been embroiled in mining rig security controversies for years, but that has not stopped it from engaging in business partnerships with key members of the US presidential family.

Three Charts Explain Why S&P Authorized Its Brand to trade.xyz
Over 100x Growth in 6 Months

After the SEC and CFTC Join Forces, What Can the Crypto Market Look Forward To?
Regulation is the starting point; a bull market depends on traditional fund inflows

Revisiting RWA: Nearly 50,000 people's first on-chain transaction was not Bitcoin, but stock indices and crude oil
The narrative of RWA is not about traditional finance capturing crypto users, but rather crypto capturing traditional users.

Morning Report | Kraken freezes IPO plans due to difficult market conditions; Polymarket acquires DeFi infrastructure Brahma; World launches AgentKit integrated with Coinbase
Overview of Important Market Events on March 18

Bitmain, mired in controversy, has found its strongest backing in the United States
Bitmain has been mired in controversies over the safety of its mining machines for years, but this has not stopped it from engaging in business cooperation with key members of the U.S. presidential family.

Full text of the Federal Reserve's decision: Maintain interest rates unchanged and expect one rate cut within the year, with Governor Mulan casting a dissenting vote
The Federal Reserve has again kept interest rates unchanged, stating that the situation in the Middle East has an uncertain impact for now. Governor Milan believes that interest rates should be cut by 25 basis points. The dot plot still indicates an expected rate cut once this year.

Guarding billions in assets, yet unable to sustain itself: Tally bids a dignified farewell after five years
Tally chooses to take proactive stop-loss measures instead of stubbornly selling tokens and making promises that cannot be fulfilled.

SEC’s Stance on Crypto Assets: Most Not Considered Securities
Key Takeaways: The SEC’s new interpretation categorizes most crypto assets as non-securities under federal law. This move aims…

South Korea’s New Crypto Seizure Guidelines After Asset Mismanagement Incidents
Key Takeaways: South Korea’s National Police Agency (KNPA) has drafted guidelines for crypto seizure, with a focus on…

Institutional Confidence in Crypto’s 2026 Growth Trajectory
Key Takeaways: A significant 73% of institutional investors plan to increase their crypto holdings by 2026. Exchange-traded products…

Ethereum Reduces Bridge Times by 98% with Fast Confirmation Rule
Key Takeaways: Ethereum introduces the Fast Confirmation Rule (FCR) aiming to cut bridge times from L1 to L2…

Crypto Firms Advocate DeFi Education in US Colleges
Key Takeaways: Twenty-one crypto organizations have called on US colleges to integrate decentralized finance (DeFi) into their curricula…
What can we expect from the crypto market after the SEC and CFTC join forces?
Regulation is the starting point, and the bull market depends on the entry of traditional capital.
Hawkish Signal in Tightening Mode | Rewire News Brief
Maintaining the interest rate unchanged is within expectations; beyond expectations is the dot plot
x402 and AI Agents: An Emerging Data Economy
x402 How to Perfectly Combine with Data Aggregation and Management?
Illustration: Despite 6 consecutive interest rate cuts, the interest rate outlook is trending upward
Nobody knows the answer, including the Fed itself
SpaceX is playing hardball with Nasdaq at the negotiation table, while Hyperliquid has already flipped the table.
A Cross-Section of Capital Market Gravity Direction Change
Bloomberg: Once Blacklisted by the U.S., Bitmain Finds a New Powerful Backer
Bitmain has been embroiled in mining rig security controversies for years, but that has not stopped it from engaging in business partnerships with key members of the US presidential family.