Grayscale calls Chainlink the ‘crictical connective tissue’ of tokenized finance

Bitcoin evangelist Peter McCormack has slammed gold bug Peter Schiff as a "nasty" human in his social media post. 

"The thing that I despise most about Schiff is that he is a nasty human. So many people have worked so hard to save money and invest in their future and the future of their family," McCormack said following Schiff's most recent attack against Bitcoin.

Earlier this week, Bitcoin experienced a dramatic price drop, briefly nose-diving below the $81,000

Schiff's schadenfreude was glaringly obvious during the crash, with the gold bug not even trying to hide his glee on social media. 

The financial commentator is busy reveling in Bitcoin's downfall, predicting that the leading cryptocurrency will manage to log a new record high only if there is a US government bailout. 

In his most recent social media post, which has prompted McCormack's response, Schiff now claims that the political incentive to back Bitcoin will not erode following the most recent price crash. 

"As the price drops, the whales will have less money to donate, and voters will be looking for someone to blame for their losses. Once political support is gone, the bubble will deflate even faster," Schiff said. 

Schiff has also predicted that Bitcoin's future sell-off will be even bigger, given that a significant portion of Bitcoin's supply is moving from strong hands to weak hands.

More backlash 

Schiff is now facing more backlash following his anti-Bitcoin comments. 

"He has cost gold people who listened to him millions of dollars of lost profit. He shows zero shame for this," investment manager Lawrence Lepard said. 

Even though gold has vastly outperformed Bitcoin this year, it is still lagging behind the leading cryptocurrency on higher time frames. 

Victoria, Seychelles, November 23rd, 2025, Chainwire

Bitget, the world’s largest Universal Exchange (UEX), has announced the commencement of the Bitget x GAIB Carnival, a comprehensive promotional event offering a total of 2,090,000 GAIB tokens. The campaign, active until November 27, 2025, introduces three distinct activities designed to enhance user participation through token distribution, asset locking, and yield-boosting opportunities.

CandyBomb: Trading Activity Offering 1,190,000 GAIB

Running from November 20 at 10:00 to November 27 at 10:00 (UTC), the CandyBomb campaign distributes 1,190,000 GAIB across two user categories. A dedicated pool of 490,000 GAIB is allocated to new users, while 700,000 GAIB is made available to all participants. Eligible users may join via the designated CandyBomb page. Trading volumes are calculated after successful registration, with transactions executed under zero-fee conditions excluded from the final tally.

PoolX: BTC Locking for a Share in 900,000 GAIB

The second activity invites users to lock BTC between November 20 and November 25 for a chance to receive airdropped GAIB tokens. The airdrop pool totals 900,000 GAIB, to be distributed proportionally based on each participant’s locked BTC relative to the overall pool. Locking thresholds range from a minimum of 0.1 BTC to a maximum of 20 BTC per user.

PoolX APR Boost: BTC Earn Bonus for Eligible Depositors

Participants in the PoolX GAIB event who maintain a net positive BTC deposit between November 20 at 9:00 and November 23 at 9:00 (UTC) will qualify for a 5% BTC Earn APR voucher. The boost is valid for up to three days and subject to deposit-based tiers. APR vouchers will be issued within two working days after the campaign concludes and must be activated within seven days. Redemption prior to maturity will render the voucher void.

Eligibility across all activities is subject to completion of identity verification. Institutional participants, market makers, and sub-accounts are excluded from participation. Incentives are subject to review, with Bitget reserving the right to disqualify any participant involved in fraudulent or non-compliant behavior. Final interpretation of the campaign terms remains at the sole discretion of Bitget.

The GAIB Carnival initiative reflects continued efforts to drive engagement within the digital asset ecosystem by combining product features with competitive incentives, promoting broader interaction with Bitget’s trading and yield-generating platforms.

Users can learn more on Bitget’s website.

About Bitget

Established in 2018, Bitget is the world's largest Universal Exchange (UEX), serving over 120 million users with access to millions of crypto tokens, tokenized stocks, ETFs, and other real-world assets, while offering real-time access to Bitcoin price, Ethereum price, XRP price and other cryptocurrency prices, all on a single platform. The ecosystem is committed to helping users trade smarter with its AI-powered trading tools, interoperability across tokens on Bitcoin, Ethereum, Solana, and BNB Chain, and wider access to real-world assets. On the decentralized side, Bitget Wallet runs as the leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built-in the platform. 

Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP, one of the world’s most thrilling championships.

For more information, users can visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, users can contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, users can refer to the Terms of Use.

Contact

Simran Alphonso

media@bitget.com

Renowned Bitcoin evangelist Max Keiser decided to frame the current market dip as nothing more than the last breath of a long distribution phase, and he did it on the same day Bloomberg screens showed something the market had almost given up on seeing this month — a rare session of net inflows into the Bitcoin ETF complex, with the group pushing a positive day even as the heaviest product in the lineup, BlackRock's IBIT, closed with another red print.

That contrast between a bleeding market and green ETF columns appeared right as the weekly BTC chart reached the zone traders have been tracking since early Q1, because Bitcoin has now retraced roughly 32% from its $129,000 peak and landed on the mid-range area between $86,000 and $80,600.

The ETF numbers back this up, with figures instead of stories, since the crypto investments market posted a $238 million positive day despite losing over $4.3 billion across the month, which suggests that several investors with real money are buying into the latest drop instead of waiting for lower quotes.

This matches what Keiser said, which is that the market has crossed into accumulation, whether retail investors like it or not.

Bitcoin price in focus

The chart context adds another layer, because below $80,600 sits the final major structural level at $74,110, which is, accidentally or not, the average buy price of Michael Saylor's Strategy, which currently holds 649,870 BTC worth as much as $55.96 billion.

If that zone remains untouched through the next few weekly candles, Bitcoin keeps its potential path toward the former resistance corridor around $112,000 and then the $120,000-$125,000 pocket that needs to be reclaimed before any conversation about a 2025 all-time high becomes any serious.

Bloomberg Senior ETF Analyst Eric Balchunas has warned that Zcash may adversely impact Bitcoin at this crucial moment.

In a recent post on X, Balchunas said Zcash (ZEC) has “third-party candidate vibes, like Gary Johnson or Jill Stein,” arguing that pushing a separate privacy coin risks “splitting the vote” when Bitcoin (BTC) needs unified political and cultural support.

Balchunas’s comment comes as the Bitcoin vs Zcash debate intensifies. Arman Meguerian, founder and CEO of Timestamp, dismissed the idea that BTC supporters are pivoting to Zcash. “I don't know a single Bitcoin maxi that thinks about Zcash at all,” he wrote on X.

Jan3 founder Samson Mow echoed the sentiment, claiming that Bitcoin maxis are “only looking at Zcash to roll our eyes at it.”

Matt Hougan, chief investment officer at Bitwise Asset Management, has opined that XRP is now entering its value capture era. 

Hougan has stressed that one of the key sources of investment alpha is recognizing when tokens improve their ability to capture value for holders, rather than just serving as governance or utility tokens. 

He has cited UNI, the native token of Uniswap, as an example. Previously a governance token with little direct benefit to holders, UNI may now burn a portion of trading fees, thus boosting the intrinsic token value.

When it comes to Ethereum , the Fusaka upgrade introduces minimum fees for Layer 2 data recording. This will potentially increase revenue capture by up to ten times.

"You see a growing focus on value capture in XRP as well. The community is starting to consider ideas like staking, which would change the economics for token holders," Hougan says. 

He’s arguing that XRP is entering a phase where holders could see more direct economic benefit, rather than relying solely on network growth or speculative demand.

Value capture is no longer risky 

Tokens like XRP were created in a regulatory era where aggressive value capture was risky, so most defaulted to governance-only designs.

Now that regulatory clarity is improving, networks can implement features like staking, fee capture, or token burns. This will benefit token holders.

“Most of today’s tokens were created in a regulatory era where value capture was risky; as a result, they defaulted to vague governance-style design choices. Under the new regulatory climate, that’s being unwound," he said. 

As reported by U.Today, XRP Ledger is currently exploring staking or other value-capture mechanisms for XRPL without compromising speed, low fees, or decentralized governance.

The goal is to align network incentives with token holders, thus creating a long-term economic model for XRP.

Ripple CTO David Schwartz also recently weighed in on the matter, floating the idea of creating a two-layer consensus model. 

Bitcoin is trading in a fragile state after slipping below $90,000 and now in the mid-$80,000s. This price action has caused some analysts to grapple with the possibility that the next major rally may be further away than many expect.

A recent technical outlook from prominent crypto analyst Tony “The Bull” Severino adds weight to this concern. His analysis focuses on the 6-week LMACD momentum indicator, which has just crossed bearish for the first time in years.

Momentum Turns Against Bitcoin On The 6-Week LMACD

The technical outlook highlights a strong warning from Severino, who argues that Bitcoin is nowhere close to staging the kind of explosive recovery many are waiting for.

Severino’s message revolves around momentum, which he says is now firmly pointed downward. The momentum is cited using the recent crossover on the 6-week LMACD, which is known for its decisive crossovers that confirm long-term trend changes.

The 6-week LMACD is a lagging signal, meaning that by the time it flips bearish, Bitcoin is already well into a downturn. The chart confirms this with multiple examples: Bitcoin entered extended red phases lasting 812 days, 861 days, and 686 days following previous bearish crossovers.

Because the signal lags price action, Bitcoin typically bottoms long after the crossover occurs. Severino noted that bear-market lows always appear between 250 and 365 days after the bearish flip, not within a few weeks. Therefore, traders expecting a bottom only 40 days after the new signal are ignoring how consistently slow this indicator behaves.

The chart also highlights how severe each downturn becomes once the LMACD flips bearish. Previous cycles saw drawdowns of roughly 69% to 75% from the moment the cross happened, even though Bitcoin had already fallen significantly before the indicator flashed.

A Possible Long Road Before Any Significant Recovery

Although the LMACD signal just crossed bearish, the current crossover is still unconfirmed for another 15 days, and the resemblance to past cycles is something to keep in mind. 

Severino noted that he is not predicting the end of Bitcoin’s long-term prospects, but he is urging traders to stop expecting rapid upside. Past behavior does not guarantee the same outcomes, and there is no certainty that Bitcoin will drop another 70% from here like previous cycles.

The 6-week LMACD is a high-timeframe signal, and the shifts it captures reflect deep structural trends rather than short-term fluctuations. This means Bitcoin could still be months away from its true cycle bottom.

At the time of writing, Bitcoin is trading at $85,670, down by 11% and 23% in the past seven and 30 days, respectively. Severino’s analysis means that the Bitcoin price could spend a prolonged period hovering around these levels or experience a further decline before any meaningful recovery into a new bull phase begins.

Featured image from See The Wild, chart from TradingView