Peter Schiff, the outspoken gold advocate, warned that Bitcoin may be “topping out” as traders await a Federal Reserve decision this week.
According to a post on his X account, Schiff said gold and silver have broken out while Bitcoin is showing signs of losing momentum.
The comment has drawn attention because it comes just before a key Federal Reserve meeting that many expect to affect risk assets.
Market Resistance At $116,000
Bitcoin has been stuck near the $116,000 level and has not been able to push well past that mark, even after recent gains.
Based on market reports, BTC logged about a 4% rise over the past week but ran into strong resistance at roughly $116,000, which traders are watching closely. That hesitation is part of why some voices, like Schiff’s, are warning a top could be forming.
The Fed is about to make a major policy mistake by cutting interest rates into rising inflation. Gold and silver have broken out, with the rally finally confirmed by mini
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