The post “Bitcoin Is Topping Out” Before Fed Rate Cut Warns Peter Schiff appeared on BitcoinEthereumNews.com. Bitcoin critic Peter Schiff said that the largest crypto is showing signs of topping out ahead of the much-awaited Fed rate cut this week during the September 17 FOMC meeting. BTC and the broader crypto market are showing signs of nervousness while facing selling pressure over the weekend. Despite gaining 4% on the weekly chart, BTC price is facing strong resistance at $116,000. Peter Schiff Slams Bitcoin Performance Before Fed Rate Cut Fed chair Jerome Powell is likely to make a major monetary policy pivot at the September 17 FOMC meeting,  as analysts expect a minimum of 25 bps interest rate cut. However, Bitcoin critic Peter Schiff believes that this could be a major policy misstep. Schiff believes that proceeding with rate cuts during rising inflation will only worsen economic risks. The economist further stressed that while traditional safe-haven assets like Gold and Silver are showing strength, in this economic uncertainty, Bitcoin is showing signs of topping out. He also argued that even equity markets, like the NASDAQ and S&P 500, have touched their all-time highs. On the other hand, BTC price has faced selling pressure and struggled to break past its all-time highs. ” Given that Bitcoin is still 15% below its 2021 peak, priced in gold should be a concern,” noted Schiff. Peter Schiff added that Bitcoin has failed to capitalize on the optimism surrounding the Fed rate cut. He also mentioned that while investors are buying into both risk assets and safe havens, they are selling Bitcoin. Following last week’s crypto market rally, investors are now waiting on the sidelines for the next directional move. Expert Calls It Typical Crypto Market Behaviour Crypto market expert Ted Pillows believes that U.S. interest rate cuts are typically bearish for risk assets in the short term, as they often signal… The post “Bitcoin Is Topping Out” Before Fed Rate Cut Warns Peter Schiff appeared on BitcoinEthereumNews.com. Bitcoin critic Peter Schiff said that the largest crypto is showing signs of topping out ahead of the much-awaited Fed rate cut this week during the September 17 FOMC meeting. BTC and the broader crypto market are showing signs of nervousness while facing selling pressure over the weekend. Despite gaining 4% on the weekly chart, BTC price is facing strong resistance at $116,000. Peter Schiff Slams Bitcoin Performance Before Fed Rate Cut Fed chair Jerome Powell is likely to make a major monetary policy pivot at the September 17 FOMC meeting,  as analysts expect a minimum of 25 bps interest rate cut. However, Bitcoin critic Peter Schiff believes that this could be a major policy misstep. Schiff believes that proceeding with rate cuts during rising inflation will only worsen economic risks. The economist further stressed that while traditional safe-haven assets like Gold and Silver are showing strength, in this economic uncertainty, Bitcoin is showing signs of topping out. He also argued that even equity markets, like the NASDAQ and S&P 500, have touched their all-time highs. On the other hand, BTC price has faced selling pressure and struggled to break past its all-time highs. ” Given that Bitcoin is still 15% below its 2021 peak, priced in gold should be a concern,” noted Schiff. Peter Schiff added that Bitcoin has failed to capitalize on the optimism surrounding the Fed rate cut. He also mentioned that while investors are buying into both risk assets and safe havens, they are selling Bitcoin. Following last week’s crypto market rally, investors are now waiting on the sidelines for the next directional move. Expert Calls It Typical Crypto Market Behaviour Crypto market expert Ted Pillows believes that U.S. interest rate cuts are typically bearish for risk assets in the short term, as they often signal…

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