Peter Schiff Warns of Bitcoin Decline After US Stock Indices Rise

American economist and long-time cryptocurrency critic Peter Schiff warned again on November 10, 2026, about a possible sharp drop in Bitcoin. The reason was the weak performance of BTC, which continued to trade below $75,000 despite the recovery of the American stock market.

In a post on social network X, Schiff pointed out the divergence between Bitcoin's behavior and the rise in stocks, gold, silver, and mining company securities. In his opinion, the cryptocurrency has lost an important support level, and further decline could be significant. The economist also urged holders of BTC to close positions before the anticipated crash.

Schiff has repeatedly issued similar warnings. In March 2020, he criticized Bitcoin after its price fell below $7,000, but the cryptocurrency later recovered and exceeded $60,000 in 2021. Some of the economist's other forecasts also did not materialize.

American stocks rose, but Bitcoin remained below $75,000

On November 9, the US stock market closed with gains in major indices. S&P 500 added 2.35%, reaching 7,549.94 points, while the Nasdaq Composite rose by 2.74% to 25,253.14 points. The Dow Jones Industrial Average increased by 2.15%, or 1,104.02 points.

The recovery followed a decline in stocks the previous week. Additional support to the market was provided by falling oil prices. Shares of chipmaker Advanced Micro Devices rose by 13.3%, Broadcom by 8.8%, and the Philadelphia Semiconductor Index added 6.9%.

Bitcoin did not show a comparable recovery. The cryptocurrency continued to trade in the range of 74,000–75,000, although it had previously declined along with tech stocks.

$1.28 billion withdrawn from Bitcoin ETFs in a week

According to data from analytical company Farside Investors, from November 2 to 6, US spot exchange-traded funds (ETFs) for Bitcoin recorded a total net capital outflow of approximately $1.28 billion.

The majority was attributed to the iShares Bitcoin Trust (IBIT) of investment company BlackRock. Over the week, the net outflow from the fund amounted to about $1.21 billion, including $403 million on November 6.

Meanwhile, the Fidelity Wise Origin Bitcoin Fund (FBTC) attracted $93.1 million over the same period. Thus, the flow dynamics varied among individual funds, although the overall market result remained negative.

Pressure was also observed in another segment of cryptocurrency funds. US spot ETFs for Ethereum recorded a net outflow of $365.2 million over the week.

According to the November 9 assessment by research company Bitfire Research, the nearest technical support area for Bitcoin was in the range of 74,400–75,000. Analysts allowed for further decline if the price consistently held below this level, but such a scenario is not guaranteed.

An additional factor for the market remains the expectations of decisions by the US Federal Reserve System (Fed). In October, the US economy created 165,000 non-farm jobs. As of November 9, the market probability of a Fed rate hike at the December meeting exceeded 80%.

The next significant event will be the release of the US Consumer Price Index for October, scheduled for November 10. The report will provide new inflation data that could influence market participants' expectations regarding the Fed's December decision.