Bitcoin News Today: Bitcoin's ETF Surge: How Mainstream Trust Defied a Skeptic's Doubts

Peter Schiff, the outspoken economist and founder of Euro Pacific Capital, has publicly reflected on his most significant Bitcoin-related misstep, acknowledging that his early skepticism of the cryptocurrency cost him a substantial opportunity. In a recent interview, Schiff admitted that while he correctly identified Bitcoin's speculative nature, he underestimated its potential to gain institutional acceptance and mainstream adoption. His critique now centers on the rapid evolution of the crypto market, particularly the approval of Bitcoin spot ETFs in early 2024, which he views as a pivotal shift that reshaped the asset's trajectory.

Schiff's retrospective analysis highlights a critical disconnect between his earlier warnings and the market's subsequent trajectory. He had long argued that Bitcoin's lack of intrinsic value and its volatility made it unsuitable for mainstream investment. However, the post-ETF landscape has demonstrated a growing appetite for crypto exposure among institutional players, with BlackRock's ETF alone generating a cumulative $3.2 billion in unrealized profits for holders as of late November 2025. This trend underscores the transformative role of ETFs in mitigating some of Bitcoin's traditional risks, such as custody challenges and price volatility, by offering a more accessible and regulated framework for investment.

The broader market context also reveals a nuanced interplay of technical and macroeconomic factors influencing Bitcoin's performance. Recent price movements have shown cautious bullish signals, with Bitcoin forming an inverse head-and-shoulders pattern on 4-hour charts-a classic technical indicator of a potential short-term reversal. Analysts at Feral Analysis suggest that a confirmed breakout above the $87,000 neckline could propel Bitcoin toward $96,400, though they caution that outcomes depend on volume confirmation and macroeconomic conditions. This aligns with Schiff's current stance that while Bitcoin's fundamentals remain speculative, its integration into traditional financial systems has introduced new dynamics that he previously overlooked.

Schiff's admission comes amid a broader reevaluation of Bitcoin's role in global markets. The approval of ETFs, coupled with Bitcoin's recent recovery above $90,000, has spurred renewed interest from investors who previously shunned the asset due to regulatory uncertainty. BlackRock's ETF, now the largest spot Bitcoin fund, has seen inflows resume after a two-week hiatus, reflecting growing confidence in the market's resilience. Meanwhile, technical indicators such as the Relative Strength Index (RSI) and Fibonacci retracement levels suggest that Bitcoin is navigating a consolidation phase ahead of potential further gains, though traders remain cautious about macroeconomic headwinds like Federal Reserve policy shifts according to recent analysis.

Despite these developments, Schiff remains wary of over-optimism, emphasizing that Bitcoin's long-term value proposition still hinges on its ability to maintain decentralization and avoid regulatory capture. His critique of ETFs as tools that dilute the "not your keys, not your coins" ethos of cryptocurrency highlights a lingering philosophical divide between traditional finance and crypto purists. Yet, the market's response to ETFs-demonstrated by BlackRock's $3.2 billion profit for ETF holders-suggests that institutional adoption is reshaping Bitcoin's narrative, even as its volatility and speculative nature persist.