Bitcoin's price has dropped to approximately $112,900, down from a recent high of $117,000, as it struggles to maintain support above the 100-day EMA at $111,800. Market analyst Peter Schiff warns that a break below this level could see Bitcoin fall towards the 200-day EMA, potentially reaching $106,000. Meanwhile, gold and silver are experiencing gains, with gold trading above $3,690 and silver surpassing resistance levels at $40 and $43. Schiff attributes the shift in investor preference to the perceived stability of gold and silver during economic uncertainty, contrasting with Bitcoin's volatility. The RSI for Bitcoin has weakened to around 45, and trading volume has decreased, indicating reduced market activity. Schiff expects increased selling pressure once U.S. markets reopen.
Bitcoin Declines as Gold and Silver Rally, Schiff Predicts Further Losses
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