Peter Schiff Says Bitcoin 'Barely Up' on Iran Peace Deal Optimism While 'Risk Assets' Are Surging—Issues Warning for Next Selloff
Economist Peter Schiff observed on Tuesday that hopes for an Iran peace deal significantly boosted risk assets and stocks, yet Bitcoin (CRYPTO: BTC) showed minimal gains.
‘The Bitcoin Party Is Over’
Schiff said on X that the ongoing “peace-inspired mega-rally” barely moved Bitcoin, while the stock market surged.
He interpreted the relative stagnation as a warning sign, saying, “That doesn’t bode well for Bitcoin’s prospects during the next risk-asset selloff. The Bitcoin party is over.”
Bitcoin Lags Risk Assets
The stock market has been on a tear this week, with the Dow Jones Industrial Average and S&P 500 surging to record highs as the Trump administration signaled the U.S. and Iran could reach a peace agreement to reopen the Strait of Hormuz, following days of fighting.
As Schiff mentioned, gold mining-related stocks, such as VanEck Gold Miners ETF (NYSE: GDX), have also spiked. Bitcoin, as shown, has failed to keep pace with the rally.
| Asset | Gains Since Week Began +/- |
|---|---|
| Nasdaq Composite | +4.77% |
| Dow Jones Industrial Average |
+3.05% |
| VanEck Gold Miners ETF | +5.155% |
| Bitcoin | +1.10% |
The Bull and the Bear Case
That said, all the stagnation could disappear sooner than expected.
Ali Martinez, popular cryptocurrency chartist and trader, identified $64,300 as a critical level for BTC’s bullish confirmation, a break above which could open the door to $66,500.
The downside scenario is that the CLARITY Act is delayed and fails to pass this week in the Senate. The long-awaited cryptocurrency legislation aims to establish clear rules for the industry, and a delay could potentially cap Bitcoin’s upside.
Price Action: At the time of writing, BTC was exchanging hands at $64,134.55, up 0.28% over the last 24 hours, according to data from Benzinga Pro.
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