URL has been copied successfully!
Bitcoin (CRYPTO: BTC) dipped below $71,000 for the first time in weeks on Monday, prompting critics to point out persistent weakness compared to equities.
Schiff Says Nasdaq Strength Makes Bitcoin’s Weakness Worse
Peter Schiff pointed to the divergence between Bitcoin and equities as a warning sign.
“If Bitcoin is this weak now, even with the Nasdaq hitting record highs, just imagine how much weaker it will be when the Nasdaq finally has a correction, let alone enters a bear market,” Schiff posted on X.
Bitcoin has historically been sold during risk-off periods as a liquid asset traders use to raise cash. If it cannot rally when equities are hitting records, the downside during a stock market correction could be sharper than most holders are pricing in.
Cowen Sees $70,000 Bounce Then A …
Please follow us:
