Bitcoin Price Dips 2% as Peter Schiff Warns Gold’s Rise Could Trigger Crypto Crash

The Bitcoin price dropped 2% in the past 24 hours to trade at $121,318 on a 16% daily trading volume surge to $80.1 billion.

This comes as economist Peter Schiff warns that crypto could soon fall as gold rises. Schiff said Wall Street’s strong optimism toward Bitcoin is “unsustainable” and predicted that if gold hits $4,000 per ounce, Bitcoin and the rest of the crypto market could drop sharply.

His warning came after Bitcoin slipped below $122,000 following a new record high of $126,000 earlier in the week. Other major coins like Ethereum, XRP, and Solana also fell 4–6%, pushing the total crypto market value down to about $2.58 trillion.

Tech entrepreneur Brian Shuster challenged Schiff’s view, saying Bitcoin’s growth and adoption tell a different story. Schiff replied that while fewer people are buying gold, interest is increasing compared to last year.

At the same time, investor Paul Tudor Jones predicted Bitcoin could rally higher. Gold is currently near $2,700, but Schiff’s $4,000 target suggests a 50% rise, which could attract big investors and pull money away from crypto.

Bitcoin Targets $150K After Strong Breakout

Bitcoin (BTC) is showing strong bullish signs after forming a double bottom pattern, a move that often signals a major price reversal. The price has now broken above the key neckline near $118,000 and is trading around $121,300. This breakout suggests that Bitcoin could rally toward the next target around $150,000 if momentum continues.

The chart shows that Bitcoin built a strong support zone between $95,000 and $100,000 earlier this year. Buyers defended this area several times, creating the first and second bottoms of the pattern. After weeks of sideways trading between $105,000 and $115,000, Bitcoin finally broke through the neckline resistance, turning it into a new support level.

BTCUSDT Analysis Source: Tradingview

This breakout zone is now seen as a buying point for traders who believe the next phase of the rally has started. Analysts call this the “reward zone,” where price moves faster because sellers are fewer. The move also shows a clear shift from a consolidation phase to a bullish trend as buyers regain control.

If Bitcoin stays above the $115,000–$118,000 level, analysts expect it to continue climbing. The next big resistance and profit-taking zone sits around $150,000 — the target level shown in the chart. Traders who entered near the breakout or the double bottom area are already seeing strong gains.

The Relative Strength Index (RSI) is currently around 61, showing that Bitcoin has good momentum but is not yet overbought. This means there’s still room for the price to rise before reaching extreme levels.