BTCUSD Today: February 24 – Schiff Sees $20K Risk as McGlone Caps $90K
Bitcoin price forecast is turning cautious today as BTCUSD trades near $64,256, down about 5% from the prior session. Peter Schiff warns of a path to $20,000, while Bloomberg’s Mike McGlone caps upside near $90,000 and flags a $10,000 tail risk. With Puell Multiple around 0.70 and momentum weak, Swiss investors face higher drawdown odds. All figures reference USD; CHF outcomes will also reflect USDCHF moves, product fees, and Swiss tax treatment.
What Schiff and McGlone Mean for Swiss Investors
Schiff says it is “highly likely” Bitcoin at least revisits $20,000, a deep retracement that would stress high‑beta crypto assets. McGlone frames $90,000 as a 2026 cap and keeps a $10,000 mean‑reversion tail risk in play. See coverage from Yahoo Finance source and CoinDesk’s macro take source.
For Swiss investors, USD‑denominated swings compound with USDCHF. A sharp Bitcoin drop alongside a stronger franc would deepen CHF drawdowns. Consider platform spreads, custody costs, and tax on gains by canton. A conservative Bitcoin price forecast should also weigh SNB policy shifts, global risk appetite, and liquidity pockets that often appear around weekends and U.S. data releases.
On-chain and Cycle Gauges to Watch
Puell Multiple around 0.70 sits above the sub‑0.50 prints that often accompany cycle lows. That suggests miners are not under extreme revenue stress yet. If price weakens while issuance remains steady, miner selling could add supply. For a Bitcoin price forecast, this level argues patience on dip‑buying until stress signals deepen or demand improves.
Price (~$64,257) sits below the 50‑day ($81,300) and 200‑day ($98,927) averages, a bearish stance. The middle Bollinger band near $72,534 and the 50‑day average form layered resistance. Halving cycles help over multi‑years, but drawdowns inside cycles can be large. Our system grade is C+ (HOLD). Model baselines: monthly $54,426, quarterly $122,324, yearly $98,201, 3‑year $125,321 (USD).
Technical Setup: Key Levels and Momentum
RSI is 30.5, near oversold. ADX at 50.17 confirms a strong trend, while MACD (-5,487.65) stays below its signal (-5,467.07). CCI at -122.56 indicates pressure, and the Awesome Oscillator is negative. ATR around 3,803 reflects wide ranges. A cautious Bitcoin price forecast respects downside momentum until breadth improves and RSI stabilises above 40.
Bollinger lower band sits near $56,580. Keltner lower at $64,675 aligns with the current zone, while today’s low printed $63,412. The middle bands at $72,534 (Bollinger) and $72,282 (Keltner) are initial targets if bounces stick. Above that, the 50‑day near $81,300 is key resistance; the 200‑day near $98,927 caps the bigger recovery case.
Positioning Ideas and Risk Management
Given trend strength and weak momentum, we would lean defensive. Some may use staggered entries or DCA only after momentum improves. Others may fade rallies into the $72k–$81k resistance zone with tight risk. In CHF terms, consider USDCHF hedging or keeping cash buffers. Any Bitcoin price forecast should include stop‑loss rules and sizing discipline.
McGlone warns Bitcoin can echo broader risk stress and a potential U.S. recession. Watch U.S. CPI, payrolls, and liquidity around expiries. In Switzerland, SNB decisions and franc strength can affect local returns. Also track spot and derivatives funding, weekend liquidity gaps, and changes in market depth around major venues.
Final Thoughts
The near‑term Bitcoin price forecast tilts cautious. Momentum is weak, trend strength is high, and price sits below the 50‑ and 200‑day averages. Puell Multiple near 0.70 does not flag typical cycle capitulation, so patience on aggressive dip‑buying looks sensible. For Swiss investors, CHF outcomes also hinge on USDCHF and product costs, which can amplify swings. We would frame scenarios: downside to the Bollinger lower band near $56,580 if momentum persists, base‑building in the $64k–$72k range if buyers stabilize, and resistance into $81k and higher if breadth improves. Keep position sizes modest, predefine exits, and reassess as data updates. This article is informational only and not investment advice.
FAQs
What is the current Bitcoin price forecast after Schiff and McGlone’s comments?
Both tilt the risk skew lower near term. Schiff highlights a path to $20,000, while McGlone sees a capped upside around $90,000 by 2026 and keeps a $10,000 tail risk. With RSI 30.5 and price below key averages, we expect choppy trade, with $56,580–$72,534 as the first technical range.
What does the Peter Schiff bitcoin call imply for risk management?
Schiff’s $20,000 warning argues for tighter stops, smaller sizes, and staggered entries. Consider how a deep drawdown would affect CHF returns, including USDCHF moves and platform fees. Stress‑test portfolios for a 50% shock and ensure cash buffers or hedges to avoid forced selling during volatility spikes.
What does the Mike McGlone bitcoin analysis say about macro links?
McGlone connects Bitcoin weakness to broader risk stress and a possible U.S. recession, with $90,000 as a 2026 ceiling and a $10,000 tail risk. That view supports a conservative base case, tighter risk controls, and careful monitoring of U.S. data, liquidity conditions, and Swiss franc strength.
What is the Puell Multiple and why does it matter now?
Puell Multiple compares daily USD miner revenue to its one‑year average. Very low readings often mark cycle lows. At roughly 0.70, it sits above typical sub‑0.50 bottoms, suggesting miners are not in capitulation. That tempers bullish setups and supports a measured, data‑driven accumulation approach.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.