Peter Schiff warns Bitcoin ETFs' low liquidity or vulnerability to market crash

In his speech today, Peter Schiff emphasized the limitations of Bitcoin ETF trading liquidity during non-U.S. market hours. The recent decline in Bitcoin prices triggered a sell-off in the global cryptocurrency market, with the total market value reduced by 8%. The turmoil in the cryptocurrency market, catalyzed by Bitcoin's sudden plunge below the $63,000 threshold, has sent shockwaves through the global financial community. In just 24 hours, the total market value of cryptocurrencies shrank by 8%, plummeting to $2.4 trillion. The precipitous drop in Bitcoin’s valuation has once again sparked heated discussions about the digital asset’s resilience in market downturns. Schiff took a closer look at MicroStrategy’s Bitcoin purchases, questioning its motives and market impact. In addition, the impact of institutional investors, including ETFs, on market stability and price discovery mechanisms has received increasing attention, and their role has been reviewed again. (Coingape)