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A notable surge was observed across major cryptocurrency markets on Tuesday, fueled by strong investor anticipation of a 25-basis-point interest rate reduction by the Federal Reserve.

Bitcoin led this upward trend, climbing past the $94,000 threshold for the first time in over three weeks, accompanied by a 23% increase in trading volume, signaling substantial buying interest. Ethereum, the second-largest cryptocurrency, also reached an intraday high of $3,395, a level not seen in nearly a month, with its trading volume rising by 30%. Other digital assets like XRP, Solana, and Dogecoin mirrored this positive momentum, recording gains of 1.05%, 3.26%, and 3.52%, respectively. This market enthusiasm extended to cryptocurrency-related equities, with Strategy Inc. and Bitmine Immersion Technologies Inc. shares closing up 2.89% and 9.40%. Data from Coinglass revealed that cryptocurrency liquidations reached $436 million within 24 hours, predominantly affecting short positions, indicating a market squeeze. Furthermore, approximately $436 million in Bitcoin short positions faced potential liquidation if the cryptocurrency sustained its price above $96,000. Binance's Long/Short Ratio indicated that 60% of traders with open BTC positions were bullish, reflecting improved market sentiment, which shifted from 'Extreme Fear' to 'Fear' on the Crypto Fear & Greed Index. The overall global cryptocurrency market capitalization saw a 2.29% increase, reaching $3.15 trillion.

Despite the prevailing optimism in the crypto space, traditional stock markets presented a mixed picture, with the Dow Jones Industrial Average and S&P 500 experiencing slight dips, while the Nasdaq Composite edged up. Traders are largely banking on a Fed rate cut, with an 88% probability priced in for Wednesday's Federal Reserve meeting, according to the CME Fed Watch tool. However, UniCredit, a prominent Italian investment bank, offered a dissenting view, predicting that policymakers would opt to keep rates unchanged. This divergence highlights the varied interpretations of economic indicators and future monetary policy. Blockchain analytics firm Santiment noted that Bitcoin's recovery generated significant excitement among retail traders, leading to an increase in calls for higher prices on social media platforms. Michaël van de Poppe, a respected cryptocurrency analyst, underscored the importance of this 'great move' for Bitcoin, suggesting it maintains a bullish trajectory. He emphasized the critical need for Bitcoin to hold the $91,500-$92,000 range as support, which could pave the way for testing the $100,000 level.

The recent surge in cryptocurrency values, particularly Bitcoin's robust performance, underscores the dynamic and evolving nature of digital assets. While market sentiment can be influenced by macroeconomic factors like interest rate decisions, the underlying innovation and increasing adoption of blockchain technology continue to drive long-term potential. Investors are reminded of the inherent volatility in this space, yet the potential for growth remains a compelling aspect, encouraging a forward-looking perspective on the future of finance.

In a recent declaration, renowned economist Peter Schiff has reiterated his long-standing skepticism towards Bitcoin, advising its current holders to divest their digital assets, which he provocatively labels 'fool's gold,' and instead channel their investments into the tangible allure of silver. This counsel comes on the heels of a notable upswing in Bitcoin's valuation, a rebound Schiff views as an opportune moment for exit. His recommendation is underscored by silver's remarkable market performance, which has recently achieved an unprecedented peak, starkly contrasting with Bitcoin's substantial depreciation of over half its value when measured against the lustrous precious metal over the preceding year.

Economist Peter Schiff Champions Silver Over Bitcoin Following Price Dynamics

On Tuesday, December 9, 2025, Peter Schiff, a prominent economist and fervent proponent of tangible assets, renewed his critique of Bitcoin, urging investors to capitalize on a recent rally by converting their Bitcoin holdings into silver. His advice came after silver surpassed the $60 per ounce mark, reaching a new all-time high with an impressive almost 5% intraday surge. Schiff, using his platform on X (formerly Twitter), proudly noted that silver's ascent aligned with his predictions, stating that once it breached the $50 long-term resistance level, it was destined for a significant rally. In a direct challenge to Bitcoin enthusiasts, he mockingly suggested that Bitcoin's modest 2% rally presented a 'good opportunity to unload some fool's gold and buy silver!'

The financial narrative of the past month has seen a compelling divergence between these two assets. Bitcoin has experienced a decline of over 12%, whereas spot silver has surged by 21% within the same timeframe. However, a broader five-year perspective reveals Bitcoin's substantial lead, with its value appreciating fivefold compared to silver's 155% gain. This nuanced performance history sets the stage for ongoing debate between cryptocurrency and precious metal advocates.

A more detailed comparison over the past year highlights a significant shift in Bitcoin's purchasing power relative to silver. A year ago, one Bitcoin could acquire approximately 3,030 ounces of silver; today, that figure has drastically fallen to 1,508.01 ounces, marking a more than 50% reduction in Bitcoin's value against silver, even as its dollar value only decreased by 5.5%. This dramatic shift positions silver as a top-performing asset not only against Bitcoin but also against a spectrum of major asset classes throughout the current year. This includes traditional stalwarts like gold, the S&P 500 (represented by Vanguard’s S&P 500 ETF), the Nasdaq-100 (via Invesco QQQ), and long-term bonds (tracked by the iShares 20+ Year Treasury Bond ETF).

Schiff's persistent criticism of Bitcoin continues to frame the cryptocurrency as an asset devoid of intrinsic utility, relying solely on collective belief for its value. Last month, he further elaborated on this view, suggesting that Bitcoin's market behavior was becoming a 'mirror image' of silver's, implying an inverse relationship where silver's gains often coincide with Bitcoin's downturns. Despite Schiff's steadfast opposition, figures like Binance founder Changpeng Zhao have speculated that Schiff might be closer to acknowledging Bitcoin's inherent potential than he lets on, suggesting a certain stubbornness in his stance.

The ongoing discourse between economists like Peter Schiff and the cryptocurrency community highlights a fundamental ideological divide in investment philosophy. While Schiff advocates for the enduring value of precious metals, rooted in centuries of economic history, the digital asset proponents argue for the innovative and transformative potential of cryptocurrencies. This debate not only shapes individual investment strategies but also reflects broader societal questions about the nature of value, currency, and the future of finance. As both traditional and digital markets continue to evolve, understanding these contrasting perspectives becomes crucial for investors navigating the complex landscape of global economics.