Peter Schiff claimed that Bitcoin price correction may not be over. Another 10% drop to $90,000 is possible.
By Bhushan Akolkar
Editor Julia Sakovich
Updated
3 mins read
Bitcoin BTC $103 153 24h volatility: 1.3% Market cap: $2.06 T Vol. 24h: $110.93 B price has been seeing heavy selling pressure recently, triggering an overall crypto market crash with liquidations soaring to $2 billion earlier today. Popular economist Peter Schiff noted that BTC could wipe out all 2025 gains, thereby predicting a crash to $90,000. After a disappointing October, November is proving to be equally brutal for BTC and altcoins, so far.
Gold buff Peter Schiff commented on the latest crypto market downturn, noting that Bitcoin has fallen below $100,000 while Ether ETH $3 347 24h volatility: 6.0% Market cap: $404.72 B Vol. 24h: $66.71 B is nearing a break below $3,000. Schiff emphasized that Ether’s drop represents a nearly 40% decline from its all-time high reached in August and that it has already erased all its 2025 gains.
He added that Bitcoin is likely to follow a similar path. Schiff warned that the leading cryptocurrency could also surrender all of its 2025 gains if the current trend continues. This means that Bitcoin price can crash further to $90,000, triggering another 10% correction.
Bitcoin finally broke below $100K. But the bigger crash is happening in Ether, which is about to break below $3K. That's almost a 40% decline from its record high set in August. Ether has already lost all of its 2025 gains. Bitcoin will soon surrender all of its 2025 gains too.
— Peter Schiff (@PeterSchiff) November 4, 2025
One user commented that if BTC tanks, Gold would follow a similar path. Responding to it, Schiff stated:
“Gold is negatively correlated with Bitcoin. So a big drop in Bitcoin likely means another big rally in gold is coming”.
Market experts believe that the ongoing US shutdown and macro uncertainty have led to greater profit-booking by the whales. However, Arthur Hayes believes that this situation could further lead to quantitative easing (QE) led by the Federal Reserve and the US Treasury. This would eventually push BTC and the crypto market higher.
Blockchain analytics firm Santiment has made an interesting observation, noting that the recent Bitcoin price crash under $100K comes from a massive whale sell-off. Citing on-chain data, the firm noted that large holders, or “whales” and “sharks” owning between 10 and 10,000 BTC, now control 68.5% of Bitcoin’s total supply.
Since Oct. 12, the whale wallets have sold 38,366 BTC, marking a 0.28% decline in their collective holdings. At the same time, Bitcoin ETFs have been bleeding heavily with another $566 million in outflows on Tuesday, Nov. 3.
📉 Bitcoin is down to $101.8K, now concerning traders with the prospect of the asset dropping below $100K for the first time since June 22nd.
🐳 Whales and sharks holding 10-10K $BTC hold 68.5% of Bitcoin's supply, and have dumped 38,366 coins since October 12th (a -0.28% drop).… pic.twitter.com/UbnIEFFZo4
— Santiment (@santimentfeed) November 4, 2025
On the other hand, small investors or “shrimps”, holding less than 0.01 BTC, have added 415 BTC to their balances during the same period, increasing their share of supply by 0.85%.
Analysts note that for a sustained crypto rebound, large holders must begin reaccumulating Bitcoin while smaller traders capitulate. Historically, such a reversal, where retail selling coincides with whale accumulation, has often signaled a market bottom.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
