Bitcoin just bounced from a brutal wipeout to a fresh show of strength — yet one of its loudest critics says it’s still going to zero. As the market shakes off an Oct. 10 liquidation storm that erased roughly $19 billion in leveraged bets, Bitcoin has climbed back above $110,000 after tagging a four-month low near $104,000. Meanwhile, gold advocate Peter Schiff doubles down: he calls BTC a “gigantic pump-and-dump,” warns of a coming sovereign debt crisis, and preps a gold-backed token that CZ dismisses as a “trust me bro” asset. Here’s what matters for traders right now.

Bitcoin rebounds, skepticism roars

BTC printed a new all-time high above $126,000 earlier this month after spot ETF demand helped fuel a powerful rally. The subsequent flush to ~$104,000 cleared excess leverage, and price is now attempting to re-establish trend above $110,000. Against this backdrop, Peter Schiff reiterates his call that Bitcoin will “eventually go to zero,” arguing early adopters exit at the expense of late buyers.

For traders, the clash between strong spot demand and persistent skepticism is not noise — it’s fuel for volatility. When narratives polarize, ranges expand, and liquidations cluster. That’s opportunity if you manage risk; a trap if you chase.

Why this matters now

Schiff’s macro warning — hyperinflation, collapsing Treasuries, gold > $4,000, and the end of USD reserve dominance — spotlights a key regime question: is Bitcoin behaving as a risk asset or a macro hedge? Recently, BTC has traded as a high-beta liquidity barometer. If bond volatility rises and dollar strength persists, risk assets can wobble even as the “digital gold” narrative grows. Conversely, steady ETF inflows and declining exchange balances can tighten spot supply and support dips.

Tokenized gold: promise vs. counterparty risk

Schiff plans a gold-backed token with vault storage, on-chain transfer, and debit-card spend. CZ’s pushback is a reminder: tokenized gold equals custodial risk. It’s only as sound as audits, redemption mechanics, and legal jurisdiction. Traders considering tokenized commodities must treat them as credit exposure, not bearer assets like BTC on self-custody.

Actionable setups to consider

• Volatility discipline: After a $19B wipeout, keep leverage modest. Use wider stops or options to express directional views.
• Hedge smart: Protective BTC puts or a collar into resistance near $126K; monetize hedges on retests of $110K if momentum holds.
• Follow the flows: Track spot ETF net inflows/outflows, stablecoin net issuance, exchange reserves, and open interest/liquidation heatmaps.
• Key levels: Support $104K (liquidation shelf), pivot $110K, resistance/invalidator $126K ATH. Above ATH, use measured move extensions; below $104K, prepare for a liquidity sweep toward $98K–$100K.
• Macro overlays: Watch DXY, U.S. 10Y yields, and gold. Rising yields + strong dollar often pressure risk; gold strength alongside BTC can signal hedge demand.
• Tokenized gold hygiene: Demand real-time audits, daily NAV, instant redemption terms, segregated custody, jurisdictional clarity, and stress-tested redemption limits.

Risk management first

Respect the tape. If BTC consolidates above $110K with rising spot volumes and positive ETF flows, dip buys with tight invalidations make sense. If flows stall and funding turns persistently positive while OI climbs, fade overextended rallies or hedge. Plan entries and exits before the trade; don’t outsource conviction to headlines.

The bottom line

Bold claims of “zero” and “forever up” both miss the trader’s edge: price, liquidity, and timing. Let narratives inform scenarios, not dictate positions. In a market this polarized, your advantage is disciplined leverage, flow awareness, and clear invalidation.

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