Peter Schiff Calls Bitcoin Price Rebound ‘Dead Cat Bounce,’ Bulls Sees More Upside

Bitcoin (BTC) critic Peter Schiff has once again downplayed the leading coin’s recent price rebound. Schiff compared the latest price surge of BTC to the performance of Gold and Silver.

However, bulls see more upside potential for BTC. The leading coin has indeed recovered from the lows witnessed during the latest market crash.

Peter Schiff Bearish Bitcoin Price Comments and Market Reaction

Peter Schiff argued against the BTC price rally following the recent market crash. Schiff raised bearish sentiments on Bitcoin, highlighting a divergence in performance with precious metals like Gold and Silver.

The Bitcoin critic noted that Gold hit a new record high at $4,080 per troy ounce on October 13. The Gold price has since climbed above this level and is now traded at $4,102, as of this writing.

In a similar move, Silver broke above the $51.60 price level today, up 3.9% from the previous day. These highs reflect broader investor FOMO amid global risks.

However, Bitcoin, unlike Gold and Silver, according to Schiff, managed “a dead cat bounce.”

Schiff pointed out that Bitcoin price is still down 25% in Gold terms since its peak in August. He concluded that the “Bitcoin blockchain letter has run out of chain.”

His comment implies that Bitcoin maximalists have no more convincing case as Gold hits new highs while BTC experienced a minor rebound.

The comments quickly drew attention within the online crypto community. One community member argued that both BTC and Gold are screaming “currency debasement.”

The commenter explained that when both assets rally together, it is a confirmation that the dollar is losing, rather than about which wins.

Responding to the comment, Schiff insisted that BTC is screaming “bubble.” He, therefore, urged investors to sell their stash and buy Gold or Silver.

Bitcoin and Global M2 Rebound: Is the Worst Over?

Despite the bearish statement from Schiff, bulls remain optimistic about the future price rebound of BTC.

Analyst Ted Pillows explained that BTC has recently lagged in comparison with the global M2 supply.

However, the analyst hinted that the worst may be over for BTC due to last week’s reset. Ted Pillows referred to the October 10 market crash, which resulted in a sharp decline in crypto prices.

The Bitcoin price dropped to $102,000 on Binance and briefly crashed to $100,837 on Hyperliquid, triggering the largest liquidation event in the cryptocurrency market’s history.

Nonetheless, with M2 still expanding and no major bearish catalysts, Ted Pillows views the reset as a catalyst for upside.

The analyst believes the Bitcoin price could start catching up with M2 supply and reach $150,000 by the end of Q4.

Unsurprisingly, Ted Pillows is just one among several others who have raised optimistic sentiments for BTC. Popular trader Peter Brandt commented earlier today that the Bitcoin bull run remains strong.

Bitcoin Price Outlook Amid Uptober Trends

The price of Bitcoin price has jumped from recent lows, rebounding towards the $115,000 level in today’s trading session.

The price soon plummeted from this level, valued at $114,333 as of the time of writing. In the past 24 hours, the BTC price increased by 1.3%, while the trading volume rallied 16% to $91.4 billion.

Although Bitcoin is still down on the weekly and monthly charts, the latest rebound mirrors historical “Uptober” trends.

Over the past few years, Bitcoin and the broader crypto market have exhibited upward momentum in October.

Thus, the Bitcoin price outlook remains bullish for the fourth quarter (Q4) of 2025. As a result, some analysts eye $120,000 as a potential breakout price target.