Peter Schiff warns of Bitcoin crash again as BTC misses Wall Street rebound

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Bitcoin has remained under pressure below $75,000 despite a strong recovery across US stock markets, prompting economist and longtime cryptocurrency critic Peter Schiff to warn investors that another major crash could be approaching.

Summary

Peter Schiff warned that Bitcoin could face another major crash after the cryptocurrency slipped below $75,000 despite a strong recovery across US stock markets.
The S&P 500 gained 2.35% and the Nasdaq Composite rose 2.74% on November 9, while Bitcoin struggled to recover alongside traditional equities.
Bitcoin has continued to face selling pressure even as technology stocks rebound, with the cryptocurrency showing weaker performance than major US stock indices.
US spot Bitcoin ETFs recorded approximately $1.28 billion in net outflows during the first week of November, with BlackRock’s IBIT accounting for most of the withdrawals.
Bitcoin remains close to the $74,400 support area as investors await fresh US inflation data and further signals on the Federal Reserve’s December interest rate decision.

In a November 10 post on X, Schiff pointed to the difference between Bitcoin’s recent performance and the gains recorded by US equities, technology stocks, gold, silver and precious metals mining companies.

He argued that Bitcoin had fallen below an important support level even as other financial markets recovered, warning that investors had only a limited opportunity to exit their positions.

“There’s a short window before the crash. Make sure to sell before it closes,” Schiff wrote.

Schiff has made similar warnings throughout Bitcoin’s history, although several of his earlier predictions of a permanent collapse have not materialized.

During the March 2020 market crash, he called Bitcoin a sinking ship after its price fell below $7,000. The cryptocurrency subsequently recovered and climbed above $60,000 the following year.

In February 2022, Schiff suggested that investors could be running out of opportunities to sell Bitcoin above $40,000. Although prices fell considerably later that year, Bitcoin eventually recovered and reached new record highs in 2024.

Some of his more recent warnings have been closer to subsequent market movements. In November 2025, Schiff urged investors to sell Bitcoin when it was trading around $93,000, months before the cryptocurrency fell below $60,000 in June 2026.

He renewed his criticism on November 5, arguing that Bitcoin was in a bubble and urging investors to sell before prices fell further. His latest warning follows that earlier call by five days.

His latest warning followed another difficult trading session for Bitcoin, which continued to hover around $74,000 to $75,000 after losing much of the ground it had recovered following the US midterm elections.

Bitcoin struggles as S&P 500 and Nasdaq recover

The difference between Bitcoin and traditional equities became particularly noticeable during the November 9 trading session, when Wall Street recorded its strongest daily performance in months.

The S&P 500 climbed 2.35% to close at 7,549.94, while the Nasdaq Composite gained 2.74% to finish at 25,253.14. The Dow Jones Industrial Average rose 2.15%, adding more than 1,100 points.

The recovery followed a difficult week for US stocks, when concerns over technology valuations and potential restrictions on artificial intelligence development had prompted heavy selling.

Lower oil prices helped improve sentiment on Monday, while semiconductor stocks recovered from the previous week’s losses. Advanced Micro Devices gained 13.3%, Broadcom rose 8.8%, and the Philadelphia Semiconductor Index climbed 6.9%.

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Bitcoin failed to record a comparable recovery despite having previously fallen alongside technology stocks during the market sell-off.

The cryptocurrency has historically shown periods of strong positive correlation with US equities, particularly technology shares, but its recent performance has been noticeably weaker.

Bitcoin has struggled to benefit from the recovery in stock prices while remaining sensitive to renewed selling pressure when equity markets retreat. The difference has left the cryptocurrency lagging traditional risk assets during the latest rebound.

ETF withdrawals continue to weigh on Bitcoin price

Part of Bitcoin’s weakness has coincided with substantial withdrawals from US spot Bitcoin exchange-traded funds, which have faced persistent selling pressure throughout early November.

As crypto.news previously reported, Bitcoin fell below $75,000 amid heavy liquidations and institutional fund withdrawals, with the cryptocurrency struggling to recover after another round of leveraged positions was closed.

US spot Bitcoin ETFs recorded approximately $1.28 billion in net outflows during the five trading sessions between November 2 and November 6.

BlackRock’s iShares Bitcoin Trust accounted for roughly $1.21 billion of those withdrawals, including $403 million on November 6 alone.

Fidelity’s FBTC recorded $93.1 million in net inflows over the same week, although those purchases were insufficient to offset the withdrawals from competing funds.

The selling pressure across ETFs extended beyond Bitcoin, with US spot Ethereum funds losing another $365.2 million during the week.

Bitcoin faces another test near $74,400

The latest decline has left Bitcoin trading close to an important technical support area that analysts have been monitoring since its failed recovery above $80,000.

In a November 9 Bitcoin price assessment, Bitfire Research identified the $74,400 to $75,000 region as an immediate support zone, with further downside possible if buyers fail to defend those levels.

The cryptocurrency had already struggled to reclaim higher resistance levels after losing momentum during the previous week’s sell-off.

Meanwhile, stronger US employment figures have complicated the outlook for interest rates, with traders increasingly expecting another Federal Reserve rate increase in December.

The October inflation report, scheduled for release on November 10, is expected to provide further information on consumer price pressures ahead of the central bank’s December policy meeting.

US employers added 165,000 jobs in October, while market pricing on November 9 indicated an estimated probability of more than 80% for a December rate hike.

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