Peter Schiff Urges ETH Sell Near $3,646, Shift to BTC
Renowned gold advocate Peter Schiff has advised traders to sell Ethereum (ETH) near $3,646 and shift proceeds into Bitcoin (BTC). Ethereum’s recent rally to around $3,800 was fueled by institutional demand, spot ETF anticipation, and US House approval of three crypto-friendly bills. SharpLink Gaming countered Schiff by choosing to stake its ETH holdings. Analyst Benjamin Cowen noted that the ETH/BTC pair had already bottomed before Schiff’s call, raising questions over timing. Traders should watch Ethereum’s price action at the range ceiling and assess Bitcoin’s stability when rebalancing portfolios.
Bearish
Peter Schiff’s call to sell Ethereum near its trading ceiling could trigger profit-taking and weigh on ETH’s price in the short term. Combined with questions over the sustainability of institutional demand and spot ETF inflows, this skepticism may dampen momentum. However, Ethereum’s long-term outlook remains supported by network upgrades and institutional interest. Overall, the news leans bearish for Ethereum price action.