Market Movements Overview

Gold bug and Bitcoin critic Peter Schiff has weighed in on the latest market movements.

According to Schiff, “Gold is at another record high this morning, rising almost $40, just below $3,060. U.S. stocks, bonds, and Bitcoin are all falling. Gold is not rising due to uncertainty but due to a loss of confidence in the dollar and the certainty that inflation will be much higher than 2%.”

>”Gold is at another record high this morning, rising almost $40, just below $3,060. U.S. stocks, bonds, and Bitcoin are all falling. Gold is not rising due to uncertainty, but due to a loss of confidence in the dollar and the certainty that inflation will be much higher than 2%.”
>— Peter Schiff (@PeterSchiff) March 27, 2025

Schiff’s mention of Bitcoin’s drop is hardly surprising given his long history of skepticism toward the cryptocurrency. He continues to champion gold while dismissing Bitcoin as a reliable store of value.

At press time, Bitcoin was down 1.12% in the last 24 hours to $86,414, marking two straight days of decline since March 25, with the possibility of a third if the trend continues. Despite this drop, Bitcoin remains above the lows of $76,555 from nearly two weeks ago.

On the macroeconomic front, investors are monitoring the personal consumption expenditures index, the Federal Reserve’s preferred inflation gauge, which will be released on Friday.

Bitcoin Whales on Accumulation Spree

While macroeconomic concerns and technical indicators may cast doubt on Bitcoin’s (BTC) short-term price trend, there are signs of optimism due to purchasing activity by large investors, referred to as whales.

Since March 11, Bitcoin whales have purchased nearly 129,000 BTC, valued at $11.2 billion at the current market price of $87,500, according to statistics from blockchain analytics firm Glassnode.

This represents the highest accumulation rate since August 2024, indicating that Bitcoin is gaining traction among market players. The Bitcoin Accumulation Trend Score stands at 0.23, suggesting that larger entities are prioritizing accumulation over selling.