Bitcoin (CRYPTO: BTC) is holding above the $90,000 level following a weekend bounce, but analysts are split on what comes next, with one veteran critic warning of a major crash and another outlining a critical zone that could decide BTC’s trend.
What Happened: In a recent post on X, longtime Bitcoin skeptic Peter Schiff argued that BTC’s failure to keep pace with gold undermines the “digital gold” narrative.
He said markets have had ample time to price in a bullish breakout, and the continued underperformance increases the risk of a “spectacular” crash rather than a smooth rally to new highs.
Crypto analyst Kevin pushed back, noting that current capital flows do not yet support Bitcoin tracking gold higher. Historically, he said, Bitcoin tends to benefit after gold peaks, as capital rotates out of safe havens and into higher-risk assets.
While there are no clear signs that gold has topped, Kevin highlighted the $4,700–$5,100 range as a major resistance zone to watch. Until then, he sees the environment as a waiting game.
Why It Matters: In a more detailed analysis, Kevin described Bitcoin as sitting at a major inflection point. Failure to reclaim the $95,700–$106,800 resistance zone could open the door to a deeper pullback toward the low $70,000–$60,000 area, a move that would confirm a bear market.
Conversely, a decisive breakout above that range would be historically significant for an early- to mid-cycle year and could set the stage for new all-time highs, potentially breaking the traditional four-year cycle pattern.
Despite higher-timeframe momentum indicators appearing reset and bullish, Kevin warned that liquidity conditions tell a different story.
Net money flow is leaving Bitcoin across multiple timeframes, signalling weak participation. Without a return of fresh liquidity, particularly from retail investors, bullish signals are likely to fail, and major resistance levels may remain intact.
Recent Comments