Peter Schiff Rejects Rotation Theory, Says Bitcoin's 1.5% Decline Differs From Gold Selloff

BTC-1.80%
According to Peter Schiff, Chief Economist at EuroPac.com, Bitcoin and gold are falling for entirely different reasons, despite their simultaneous price weakness. In an X post, Schiff argued that Bitcoin did not rise alongside gold during its recent rally but is now falling with it, highlighting an asymmetry he views as crucial. He framed gold's selloff as a buying opportunity reflecting temporary weakness, while characterizing Bitcoin's decline as a bubble deflating. Schiff rejected a popular theory among crypto investors that a gold selloff would trigger capital rotation into Bitcoin, stating the two assets' different fundamental drivers make such a rotation unlikely. Bitcoin was trading near $59,155, down 1.5% in the previous 24 hours, according to CoinGecko.
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