Bitcoin Declines as Gold Gains, Peter Schiff Expects Further Divergence

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Bitcoin fell toward $63,000 on Saturday as investors pulled away from riskier assets, concerned about persistent inflation and artificial intelligence disruption. Bitcoin fell to a low of $63,019 and was trading down 2.78% in the last 24 hours to $64,044. Advertisement In his usual characteristic manner, long-time cryptocurrency critic and gold bug Peter Schiff took the chance to poke at Bitcoin bulls as the price fell. You Might Also Like Sat, 02/28/2026 - 15:24 Bitcoin Sell Volume Surges by $1.8 Billion Amid US Tensions By Caroline Amosun HOT Stories Crypto Market Review: Bitcoin's $70,000 Guarded Like Treasure, Will Shiba Inu Have Bullish March? Ethereum Breaks Above 100-Day Threshold XRP Volume Rises 212%, Bitcoin ETFs Back in Demand With $506 Million, Dogecoin Price Reclaims $0.10 — U.Today Crypto Digest In a tweet, Schiff highlighted an increase in gold and silver prices while Bitcoin's price fell. Schiff noted that gold added $94 to close at $5,278, its highest weekly and monthly close ever. Also, silver added $5.50 to close at $93.66, its highest monthly close ever. Advertisement Gold closed up $94 today, at $5,278, its highest weekly and monthly close ever. Silver closed up $5.50, at $93.66, its highest monthly close ever. So far in 2026, gold is up 21.5% and silver is up 30%. In sharp contrast Bitcoin is down 27%. This divergence will continue all year. — Peter Schiff (@PeterSchiff) February 27, 2026 Schiff gave gold and silver price increases so far in 2026 to be 21.5% and 30%, respectively. This he contrasted with Bitcoin, which he said was down 27%, while predicting that the divergence between Bitcoin and precious metals will continue all year long. Bitcoin gold divergence: analysts weigh in Fidelity's Jurrien Timmer stated that in his own view, Bitcoin is an aspirational junior player on the hard money team (led by gold). Advertisement You Might Also Like Sat, 02/28/2026 - 12:15 23,300 BTC Moved to Exchanges at Loss as Bitcoin Drops Below $64,000 By Tomiwabold Olajide "Gold has been and, in my view, will always be the quarterback on this team, and Bitcoin along with silver are secondary plays. As such, they may take turns leading the ups and downs," Timmer stated. He highlighted the gold/Bitcoin ratio as a metric to consider, and possibly a valuable indicator as the Bitcoin price finds a floor. Based on this, the $60,000 level stands out as key support based on past price action and the power law curve. Timmer indicated that while gold is "cheap" compared to silver, it is "expensive" compared to Bitcoin, adding that the current levels are not quite at the extremes seen at previous inflection points but are now getting close. The gold/Bitcoin Z-score has historically signaled tops and bottoms through divergences. However, no clear divergence is present now, and indicators are not at prior low extremes. Bitcoin may need more time consolidating between $60,000 and $70,000 before forming a lasting bottom. Crypto analyst Michael Van de Poppe shared expectations on the markets in a recent tweet: "My expectation is that we'll see a peak on commodities soon and a rotation towards equities & Crypto from next week on." #Bitcoin #Peter Schiff #Gold