**Bitcoin Price Slide Intensifies: Analysts Warn of Decline to $83,500 Amid Gold’s Strong Performance**
Analysts are cautioning investors about the possibility of Bitcoin ($BTC) dropping further to $83,500, as more than 10,000 BTC—worth approximately $1 billion—has moved to exchanges in the last 72 hours. The recent activity reflects weakening sentiment, with major investors like Robert Kiyosaki and Michael Saylor signaling long-term confidence despite the ongoing sell-off.
**Bitcoin Breaks Below Key Support Levels**
After losing the critical $100,000 support, Bitcoin’s price extended its losses, testing lows below $93,000 on Monday, November 17. According to Coinglass data, 24-hour liquidations surged to $243 million as Bitcoin shed all gains accumulated in 2025. The sell-off intensified following significant Bitcoin ETF outflows last week.
**Gold’s Outperformance Draws Attention**
Gold advocate Peter Schiff seized the opportunity to highlight gold’s strong performance, noting the precious metal had regained momentum and reclaimed $4,100 levels during early Asian hours. In contrast, Bitcoin continues to struggle near the $93,000 mark.
Schiff emphasized that Bitcoin is down 26% from its recent peak, and its fall is even steeper when measured against gold—39%. He described the situation as a “far more ferocious” bear market relative to gold, urging investors to “Sell Bitcoin now and buy gold before you get mauled.”
**BTC vs. Gold: Growing Divergence**
Market experts have observed a growing divergence between Bitcoin’s price and gold, particularly since the $19.2 billion crypto market liquidation on October 10. Over the past month, gold has outperformed Bitcoin by about 25 percentage points, reversing several months of positive correlation between the two assets.
Analysts at The Kobeissi Letter noted that sentiment and price dynamics shifted dramatically following the October 10 liquidation event, attributing the divergence to extremely high leverage and liquidation pressure in the crypto markets.
**Some Defend Bitcoin Amid Underperformance**
Senior Bloomberg analyst Eric Balchunas has defended Bitcoin’s long-term potential, countering the criticism surrounding its underperformance against gold.
**Expert Predictions: BTC Could Drop to $83,500**
Crypto analyst Ali Martinez reports that Bitcoin has broken out of its trading channel, increasing the likelihood of a price fallout to $83,500. Martinez also points to rising selling pressure, with over 10,000 BTC flowing into exchanges in the past three days, signaling heightened volatility and lackluster investor sentiment.
**Big Investors Remain Bullish**
Despite the turbulent market, veteran investor Robert Kiyosaki announced his intention to increase his Bitcoin holdings after the sell-off concludes. Meanwhile, Michael Saylor continues to demonstrate confidence in BTC, sharing updates about potential new purchases and dismissing rumors about selling from his firm’s holdings.
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*Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly—please verify information for yourself and consult with a professional before making financial decisions based on this content.*
https://bitcoinethereumnews.com/bitcoin/sell-bitcoin-buy-gold-says-peter-schiff-as-btc-price-drops-to-92-5k/