Peter Schiff Renews Bitcoin Crash Warning as U.S. Stocks Rally

Economist Peter Schiff renewed his Bitcoin crash warning Nov. 9 as U.S. stocks posted sharp gains, highlighting a contrast as spot Bitcoin funds continued to see net withdrawals.

In an X post, Schiff said Bitcoin (BTC) was below $75,000 when he posted and wrote, “There's a short window before the crash.” The price was a point-in-time observation; it does not show BTC’s return over the full stock session.

At the 4 p.m. ET (21:00 UTC) close, the S&P 500 was up 2.3% at 7,549.94, and the Nasdaq Composite had gained 2.7% to 25,253.14. The indexes reversed part of those gains the next session, falling 0.4% and 0.7%, respectively.

U.S. spot Bitcoin ETFs recorded $201 million in net outflows Nov. 9. Across the five sessions from Nov. 2-6, they had $1.28 billion in net outflows. BlackRock’s IBIT accounted for $1.21 billion in outflows during that period, while Fidelity’s FBTC recorded $93.1 million in net inflows.

Schiff had also urged holders to sell after the midterm elections in a Nov. 5 post-election warning. The stock moves and ETF flows do not establish that a Bitcoin crash will follow.