Bitcoin surged above $70,000 this week as markets reacted to escalating battle between the United States and Iran. However, Peter Schiff renewed his criticism of Bitcoin, arguing the rally may mislead buyers throughout wartime volatility. Earlier, Schiff warned that Bitcoin above $71,000 represented a “head fake,” urging buyers to promote Bitcoin and transfer funds into gold or silver.
Peter Schiff Doubles Down on Gold During War Uncertainty
Peter Schiff, on X, issued his newest warning as world markets digested rising geopolitical tensions linked to the U.S.-Iran battle. He argued that buyers at present anticipate the conflict to stay brief and manageable. However, Schiff mentioned that consequence stays unlikely and defined that markets may shift rapidly if the battle drags on longer than anticipated.
According to Schiff, a protracted conflict would strain shares, bonds, cryptocurrencies, and the U.S. greenback. At the identical time, he expects oil and gold costs to climb considerably. His feedback come throughout a interval when oil prices have surged after the battle disrupted key power routes.
However, gold declined regardless of the geopolitical tensions, whereas Bitcoin moved in the wrong way and continued rising. This value divergence added a brand new outlook to the controversy over safe-haven property, since gold historically attracts buyers throughout wartime uncertainty and market stress. Yet latest market strikes confirmed Bitcoin gaining whereas gold pulled again.
Bitcoin Surges as Analysts Debate Safe-Haven Narrative
While Schiff criticized Bitcoin’s rally, different market voices addressed the weird value conduct. As CoinGape reported, billionaire hedge fund founder Ray Dalio also questioned comparisons between Bitcoin and gold. Dalio argued that Bitcoin lacks central financial institution backing and presents restricted privateness benefits, whereas additionally warning that future quantum computing developments may threaten the cryptocurrency’s safety mannequin.
These remarks got here as Bitcoin outperformed gold throughout the newest U.S.-Iran conflict. The distinction between the 2 property grew to become extra seen after Iranian airstrikes intensified regional tensions. However, Bloomberg ETF analyst Eric Balchunas urged warning when deciphering short-term value strikes and mentioned latest market conduct doesn’t essentially redefine Bitcoin or gold as safe-haven property.
Balchunas famous that Bitcoin gained roughly 12 % following the Iranian assaults, whereas gold costs moved decrease throughout the identical interval. He defined that market-making exercise and sentiment shifts seemingly influenced these actions.
CryptoQuant Data Shows Relief Rally as Selling Pressure Eases
On-chain information exhibits Bitcoin price’s latest power. According to CryptoQuant, Bitcoin rallied after promoting strain throughout spot markets started to decline. Demand contraction narrowed sharply this yr, dropping from adverse 136,000 BTC early in 2026 to round adverse 25,000 BTC lately.
Meanwhile, the Coinbase Premium indicator turned optimistic, suggesting renewed shopping for exercise from United States buyers. The CryptoQuant report additionally noticed lowered promoting from merchants and long-term holders, whereas dealer unrealized losses reached ranges final recorded in July 2022.
Historically, such circumstances scale back marginal promoting and assist short-term rebounds. Long-term holder distribution additionally slowed considerably in latest months, with the 30-day promoting tempo falling from 904,000 BTC in November to roughly 276,000 BTC lately. That marked the bottom stage recorded since June 2025.
Despite the rebound, CryptoQuant nonetheless described present market circumstances as bearish general. Its Bull Score Index remained low at 10 out of 100. The agency additionally recognized two key resistance ranges if Bitcoin continues rising, with the primary close to $79,000 and a stronger resistance showing round $90,000.
Source: CryptoQuant
