Veteran economist Peter Schiff hasn't changed his tune on Bitcoin (BTC). On Monday morning, as the cryptocurrency briefly spiked above $90,000, Schiff took to X with his familiar refrain: another chance to sell.
But here's the ironic twist. While Schiff was busy telling everyone to dump Bitcoin, silver—one of his preferred assets—was having an absolute nightmare. The precious metal crashed 13% from an all-time high of $84 down to $73 per ounce.
Schiff's Bitcoin Bear Case Shows No Signs of Softening
"Bitcoin is back above $90K. Another opportunity to sell," Schiff posted early Monday, staying true to his decade-long skepticism of digital assets.
When someone suggested that Bitcoin and gold represent the same macro trade, Schiff wasn't having it. "Actually they are the opposite trade," he shot back, emphasizing that the correlation between gold and Bitcoin is negative.
On December 26, he had written: "Merry Christmas, HODLers. Santa gave you guys a Christmas gift after all—a Bitcoin rally to sell into."
Silver's Spectacular Rise and Fall
Silver's sharp pullback came as profit-taking accelerated following a historic rally. The Chicago Mercantile Exchange implemented its second margin requirement hike in two weeks, raising the initial margin for March 2026 silver futures contracts to approximately $25,000, up from $20,000 earlier this month.
Despite Monday's brutal decline, the precious metal has still rallied approximately 166% year-to-date. At its peak, silver's market capitalization briefly surpassed Nvidia to become the second most valuable asset in the world behind gold.
Chinese investment demand remained strong throughout the volatility, with premiums for spot silver in Shanghai rising above $8 an ounce over London prices—the biggest spread on record.
Where Bitcoin Goes From Here
Bitcoin has been in a sustained downtrend since peaking near $108,000 in mid-November. The price recently broke below the critical $90,000 psychological level and hasn't been able to reclaim it.
The Supertrend indicator has flipped bearish at $95,121, acting as overhead resistance. The next major support zone sits around $84,000-$85,000, and if that breaks, traders could see a flush toward $80,000.
For any bullish reversal, BTC would need to reclaim $92,000 and then the $95,000-$97,000 zone to change the bearish momentum.
