Key Notes
- Analysts warn of a possible decline to $83,500.
- More than 10,000 BTC, worth $1 billion, moved to exchanges in the past 72 hours.
- Major investors like Robert Kiyosaki and Michael Saylor signal long-term confidence.
After losing the crucial $100,000 support, Bitcoin’s price has extended losses, testing lows below $93,000 on Monday, Nov. 17.
Gold buff Peter Schiff took this moment to highlight Gold’s outperformance as the yellow metal regains $4,100 levels. Experts believe that if the sell-off continues,
BTC
$95 607
24h volatility:
0.5%
Market cap:
$1.91 T
Vol. 24h:
$79.15 B
price can drop further to $83,500.
Sell Bitcoin Now and Buy Gold, Says Peter Schiff
Earlier today, Bitcoin’s price took a dive below $93,000, with 24-hour liquidations soaring to $243 million, according to Coinglass data. With BTC eroding all of its 2025 gains, critics like Peter Schiff have stepped up fresh attacks on the largest crypto.
Highlighting Gold’s dominance over BTC, Schiff said that the yellow metal has resumed its upward momentum, trading back above $4,100 during early Asian hours, while Bitcoin is struggling to maintain levels near $93,000. The BTC sell-off has intensified amid strong Bitcoin ETF outflows last week.
Peter Schiff added that Bitcoin is now down 26% from its recent peak. He emphasized that the decline is even more severe when measured against gold.
According to him, Bitcoin has fallen 39% in gold terms, signaling a “far more ferocious” bear market relative to the precious metal. “Sell Bitcoin now and buy gold before you get mauled,” said Schiff in his recent message on X platform.
Market experts believe there’s been a growing divergence between BTC’s price and Gold since the massive $19.2 billion crypto market liquidation on October 10.
Over the past month, gold has outperformed Bitcoin by roughly 25 percentage points, reversing several months of strong positive correlation between the two assets.
Analysts at The Kobeissi Letter noted that sentiment and price dynamics changed sharply after the October 10 liquidation event. They added that the divergence is primarily due to extremely high leverage levels and liquidation pressure.
Bitcoin and Gold Decoupling | The Kobeissi Letter
Senior Bloomberg analyst Eric Balchunas has come to Bitcoin’s defense amid major flak amid underperformance against Gold. He wrote:
Experts See BTC Price Sell-off to $83,500
Crypto analyst Ali Martinez reports that Bitcoin has broken out of its trading channel. This has further increased the probability of a BTC price fallout to $83,500.
At the same time, Martinez highlights rising selling pressure, noting that more than 10,000 BTC, nearly $1 billion, have flowed into crypto exchanges over the past 72 hours. The surge in inflows signals waning investor sentiment in current market conditions.
Amid this current sell-off, veteran investor Robert Kiyosaki said he plans to increase his Bitcoin holdings once the ongoing market selloff concludes. On the other hand, big market players continue to show confidence in BTC.
While sharing his Bitcoin buying tracker with orange dots, Michael Saylor hinted at additional BTC purchases, calling it a “Big Week” ahead. Thus, he has debunked the theory of Strategy selling Bitcoins from its holdings.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Bhushan Akolkar on X
Source: https://www.coinspeaker.com/sell-bitcoin-buy-gold-says-peter-schiff-as-btc-price-drops-to-92-5k/
