From Investing.com
August 3, 2024 12:30 PM:

Bitcoin, the largest cryptocurrency, dipped below $61,000 amidst market risk aversion and Genesis asset distribution post-bankruptcy restructuring. The $60,240 intraday low stemmed from U.S. job report fears of a looming recession. Japan also saw a market slump after Bank of Japan’s minor monetary tightening to 0.25%. BTC currently sits at $62,142, down 3.56% in 24 hours.

Gold advocate and crypto critic Peter Schiff pointed out Bitcoin’s 13% drop against the yen, hinting that Japanese investors might ditch the crypto. He compared gold’s 2.5% drop in yen to Bitcoin’s downfall. Schiff also criticized Ethereum ETFs, expecting a tumble to $2,000 and asserting that gold outperforms Bitcoin. Schiff’s skepticism towards cryptocurrencies aligns with his pro-gold stance.

Read more at Investing.com: Peter Schiff Predicts Japan’s Bitcoin Exit as Price Drops: Details By U.Today