Bitcoin Price Edges to $87.5k as Peter Schiff Warns Silver Rally Could Spell Trouble for BTC

The Bitcoin price has climbed by a fraction of a percentage to $87,500 as of 11 p.m. EST, showing limited upward momentum as markets digest Peter Schiff’s latest warning following silver’s explosive rally.

Veteran economist Schiff cautioned that Bitcoin could face the opposite outcome of silver’s surge, arguing that market downturns often unfold faster than rallies once selling pressure sets in. His comments followed a dramatic intraday jump of more than 10%, which briefly pushed prices above $79 per ounce for the first time.

Market data showed silver rising from $78 to $79 in roughly ninety minutes, a move that caught global attention. TradingView charts revealed a near-vertical breakout, confirming that the metal remains in a strong multi-month uptrend and has entered uncharted territory.

Silver’s momentum has strengthened the broader market narrative favoring commodities and alternative assets. This shift is also reflected in the growth of crypto-based tokenized commodities, whose combined market valuation has risen toward $4 billion, signaling increasing investor demand for diversified exposure.

Further data from CompaniesMarketCap showed silver narrowing the gap with NVIDIA in total market capitalization, pointing to rising institutional interest in metals. Despite silver’s strength, questions remain about sustainability.

A new chart shows silver’s monthly RSI at its highest level in 45 years, indicating extreme momentum. Another long-term comparison chart highlights Bitcoin losing relative strength against silver, giving back gains accumulated since 2017, underscoring how quickly silver has outperformed BTC in the latest rally.

Bitcoin Price Signals Deeper Downside Risk

Bitcoin is trading near $87,500, showing weak price action after failing to hold key support levels. The broader chart structure suggests that bullish momentum has faded, with price now leaning toward a bearish continuation scenario.

A major technical feature is the rounded top formation that developed over several months. This pattern often signals the exhaustion of distribution and trend following a strong rally. Bitcoin has already broken below the neckline support, which was previously holding the price above the $80,000 zone. This breakdown confirms a shift from a bullish to a bearish market structure.

After losing neckline support, Bitcoin attempted a recovery but failed to reclaim that level. The rejected retest turned former support into resistance, reinforcing bearish pressure. Currently, the price is consolidating below this resistance, which limits upside potential in the near term.

BTCUSDT Chart Analysis by Tradingview

On the right side of the chart, price action shows an inverted cup and handle pattern.  The small consolidation near current levels represents the “handle,” where buying momentum continues to weaken. A decisive breakdown from this structure would likely accelerate selling pressure.

Based on the measured move from the rounded top and inverted cup pattern, the next major downside target is projected between $50,000 and $55,000. This area also aligns with previous consolidation zones and liquidity levels, making it a realistic technical objective if the bearish setup plays out.

The RSI (14) is currently around 43, remaining below the neutral 50 level, indicating that the bearish momentum is still in control. Importantly, the RSI is not oversold, meaning there is room for further downside before buyers are forced to step in aggressively.

Bitcoin remains technically weak below the $90,000–$92,000 resistance zone. As long as the price stays below this area, downside risk remains elevated. A strong daily close back above the neckline would be required to invalidate the bearish structure. Until then, the technical bias favors continued consolidation or further decline.

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