Bitcoin pulled back from fresh highs this week, while gold pushed higher and grabbed attention. According to social posts by economist Peter Schiff, a move into precious metals could force crypto prices lower.

Bitcoin briefly slipped below $122,000 after hitting an intraday peak near $126,000 earlier, and the total crypto market cap eased to about $4.13 trillion. Based on figures, most large coins fell; Ethereum, XRP and Solana dropped between 5% and 6%, while BNB was among the few gainers.

Schiff Issues Stark Warning

Schiff wrote on X that “Bitcoin and everything crypto are about to be rugged by gold,” and he forecasted gold reaching $4,000 per ounce if the trend continues.

He argued Wall Street’s optimism on crypto has become hard to justify and suggested that a sharp move in bull

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