Veteran economist Peter Schiff on Monday urged investors to sell Bitcoin (CRYPTO: BTC) on Monday as BTC briefly spiked above $90,000, while silver crashed 13% from an all-time high of $84 to $73 per ounce.
Schiff Doubles Down On Bitcoin Bear Case
“Bitcoin is back above $90K. Another opportunity to sell,” Schiff posted on X early Monday morning, continuing his decade-long skepticism of the digital asset.
When a user suggested that Bitcoin and gold represent the same macro trade, Schiff pushed back forcefully.
“Actually they are the opposite trade,” he wrote, emphasizing that the correlation between gold and Bitcoin is negative.
On Dec. 26, he wrote: “Merry Christmas, HODLers. Santa gave you guys a Christmas gift after all—a Bitcoin rally to sell into.”
Silver’s Wild Ride From Record High To Collapse
Silver’s sharp pullback meanwhile came as profit-taking accelerated following the historic rally.
The Chicago Mercantile Exchange (CME) 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 sharp decline, the precious metal has still rallied approximately 166% year-to-date.
Silver’s market capitalization briefly surpassed Nvidia to become the second most valuable asset in the world behind gold.
Chinese investment demand remained strong, with premiums for spot silver in Shanghai rising above $8 an ounce over London prices—the biggest spread on record.
BTC Price Analysis By TradingView
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.
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