Bitcoin Price Falls As Peter Schiff Says BTC Is 'Topping Out'

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The Bitcoin price dropped a fraction in the past 24 hours to trade at $115,129 as of 4:16 a.m. EST as Peter Schiff says BTC is ‘topping out’ and a downbeat whale dumped BTC again before the FOMC rate decision on Wednesday

Economist and long-time BTC critic Peter Schiff believes that Bitcoin is running out of steam.

“Bitcoin is topping out just as the Fed prepares to cut rates.,” he said on X.

Maybe, maybe not. Given what’s happened if this was just a consolidation I should already broken out. Given that Bitcoin is still 15% below its 2021 peak priced in gold should be a concern.
— Peter Schiff (@PeterSchiff) September 14, 2025

Lowering rates while inflation remains high could worsen economic risks, he said.

The Fed is widely expected to cut rates by at least 25 basis points on September 17. Rate cuts often support markets, but some analysts are now bearish in the short term.

“Historically, equities have struggled in the months following the first rate cut, as markets interpret the move as a sign of deeper economic weakness,” said analyst Ted Pillows on X.

As Schiff doubles down on his bearish outlook, a long-term Bitcoin holder who sold $4 billion of his holdings for Ether last month has started selling again.

According to data from Lookonchain, the wallets tied to an address that held onto Bitcoin for over 8 years deposited 1,176 BTC ($136 million) into the Hyperliquid trading platform on Sunday.

After a two-week break, the #BitcoinOG who exchanged 35,991 $BTC($4.04B) for 886,371 $ETH($4.07B) is back to selling $BTC!
2 wallets linked to this #BitcoinOG have deposited 1,176 $BTC($136.2M) to Hyperliquid in the past 2 hours and started dumping.https://t.co/LTiJHW049j pic.twitter.com/L0m2bEG1J7
— Lookonchain (@lookonchain) September 14, 2025

Meanwhile, US investment giant Capital Group has turned a $1 billion bet on Bitcoin-linked stocks into more than $6 billion in just 4 years, as it continues to fatten its portfolio by investing in BTC treasury companies.

Bitcoin Price Continues To Hover Below The $116,000 Resistance

The BTC price is currently consolidating just under the $116,000 mark, facing short-term resistance after breaking out of a falling wedge pattern.

This breakout is generally considered a bullish reversal pattern, and the recent Break of Structure (BOS) further confirms the shift in momentum.

After weeks of lower highs and lower lows, the Bitcoin price has managed to reclaim ground above both the 50-day and 200-day Simple Moving Averages (SMAs). This important technical milestone shows that the bulls are moving towards renewed strength.

Meanwhile, the Relative Strength Index (RSI) is currently at 58, which shows that the asset is in neutral-to-bullish territory. This indicates that the price of BTC is not yet overbought, indicating to investors that there is sufficient room to push the price even further before it reaches overextended conditions.

The Moving Average Convergence Divergence (MACD) indicator also supports a bullish narrative. The blue MACD line is trending above the orange signal line, with histogram bars remaining in positive territory.

BTC Bulls Target $124,000 And Beyond

Given the wedge breakout and confirmation above the major moving averages, Bitcoin appears poised for another leg upward.

The immediate target from the breakout pattern points toward the $124,180 region, representing an approximate 7.66% rally from current levels.

However, the $116,000 resistance remains a psychological barrier that bulls must overcome for continuation.

On the downside, if resistance proves too strong, the $112,000 support zone will be crucial in preventing a deeper retracement.

Crypto analyst and founder of MN Fund, Michaël van de Poppe, says that if the price of Bitcoin surpasses the $117,500 level, we are going to see a new all-time high (ATH).

#Bitcoin faces the final resistance before we’re going to be seeing a new all-time high.
Breaking through the $117.5K-118K and we’ll be going towards a new ATH.
Important week, really looking forward to the volatility of this week! pic.twitter.com/4U9Gr0guS0
— Michaël van de Poppe (@CryptoMichNL) September 15, 2025

Another X user and analyst, Ali Martinez, said that as long as the price holds above $115,100, it could target $136,900.

On September 12, spot BTC exchange-traded funds recorded $642.40 million in net inflows, the second-highest amount in the past two weeks, according to Coinglass data.