Bitcoin Trading Near $92.8k Amid Economist's Caution Over Silver's Explosive Movement

Economist Peter Schiff has raised concerns about the implications of silver's dramatic recent performance, suggesting that cryptocurrencies like Bitcoin could face sharper declines if investor sentiment shifts. The precious metal rallied more than 10% in a single trading session, achieving fresh all-time highs around $79 per ounce, according to market data.

Currently, Bitcoin is navigating around the $92,840 level as of early January 2026, but the digital asset remains pressured by multiple headwinds. According to technical analysts, the price action reflects consolidation below several key resistance zones that have historically capped upside attempts.

**Technical Setup Points to Continued Weakness**

The technical landscape for Bitcoin presents mixed signals with bearish undertones. The Relative Strength Index (RSI) continues to hover in oversold-to-neutral territory below the 50 midpoint, a pattern historically associated with indecision or downward bias. More concerning for bulls is that Bitcoin has recently pierced through important support levels at the neckline—a technical breakdown that typically precedes further selling pressure.

**What Schiff's Warning Reveals**

Peter Schiff's commentary suggests that if silver's momentum reverses, broader risk-off sentiment could accelerate flows away from speculative assets. His thesis implies that Bitcoin's vulnerability may be greater than many realize, particularly if macro conditions deteriorate. The correlation between precious metals and cryptocurrencies remains a topic of debate, but recent price action lends credibility to the theory that they sometimes move in tandem during market stress.

Traders should monitor whether Bitcoin can stabilize and reclaim resistance levels, as a failure to do so could validate the bearish narrative that has been circulating among technical analysts.