Bitcoin Bounces Above $61K After Breaking 2026 Low; Schiff Warns of 'Crypto Black Monday', 59% Vote BTC Must Hit Zero

Bitcoin fell to $59,750, its lowest level since October 2024, on Friday before bouncing back above $61,000 on June 7. The decline marked the asset's 24% drop over the past month and 52% decline from its October 2025 peak above $126,000.

Peter Schiff warned on X of a potential "Crypto Black Monday" if today's low is breached further. In an X poll, 59% of over 15,700 voters selected zero as the price level at which they would concede Schiff was correct about Bitcoin, while only 18.7% chose $20,000. Bulls cite oversold RSI levels and models targeting $165,000 fair value, with the 2026 low serving as the key technical support level to hold.