Bitcoin set another Bitcoin all-time high near $118,000 on July 11. The fresh Bitcoin rally triggered new commentary from critics and supporters. Prices climbed roughly 6 percent in 24 hours, extending year-to-date gains and drawing fresh attention from traders and institutions.
Peter Schiff Tells Investors to Sell Bitcoin and Buy Silver
Peter Schiff, an outspoken gold advocate, repeated his warning about Bitcoin’s risk. In an X post, he wrote,
“With Bitcoin hitting new highs today (in dollars), it’s a great time to sell Bitcoin and buy silver ahead of silver’s next big leg up.”
Schiff argued that the upside for silver now outweighs the upside for Bitcoin. He added that Bitcoin “can easily crash,” while silver’s downside “seems very limited.” His statement kept the long-running debate alive as digital-asset prices advanced.
The comment followed Bitcoin’s intraday jump past $112,000. Soon after, the market lifted the price closer to $118,000. Schiff has issued similar alerts during earlier rallies, yet this time his focus stayed on a direct switch from Bitcoin to silver.
Arthur Hayes Cites Liquidity Pressure and Favors Ethereum Outperform
Arthur Hayes, BitMEX co-founder, offered a different view. He said he felt “slightly bearish” because the U.S. Treasury General Account will add new debt. He called this process “liquidity pressure” that could briefly tighten dollar supply.
Even so, Hayes highlighted a possible Ethereum outperform move. He wrote on X, “[Ether] will outperform, get ready for a monster [altcoin season.].” At the time, Ether traded near $2,989. Hayes also noted that his family office, Maelstrom, stands ready to enter the market when conditions align.
Hayes mentioned U.S. trade-policy talk. He suggested that investors now assume former President Donald Trump might not enforce planned tariffs. This assumption, he said, shapes risk appetite across assets, including crypto.
Institutional Macro Hedge Narrative Grows During Bitcoin All-Time High
Erald Ghoos, CEO of OKX Europe, said institutions are treating Bitcoin as an institutional macro hedge. He explained,
“Bitcoin’s surge to new highs isn’t just noise; it reflects its emergence as the ultimate digital macro hedge.”
He pointed to low volatility and steady ETF inflows as evidence.
Moreover, Ghoos connected the price action to “rising global trade tensions” and a “policy-driven liquidity backdrop.” His view matched recent on-chain data that showed large capital moving into Bitcoin exchange-traded funds.
Roshan Robert, OKX CEO, shared a similar position.
“Bitcoin is showing why it’s in a class of its own,”
he said. He noted that altcoins struggled while Bitcoin gained.
“July will test markets, but Bitcoin looks built for it,”
Robert added. His remarks echoed the Bitcoin rally narrative that portrays the asset as resilient during macro uncertainty.
ETF data confirmed that spot vehicles kept adding coins. Net inflows topped 5,000 BTC for the week ending July 11, extending an eight-week streak. Observers linked the inflows to pension funds and other long-term pools that follow a set allocation model.
Meanwhile, silver traded near $29 per ounce, posting a small rise on the day. The metal still lags its 2011 peak above $48. Schiff used that gap to argue for upside potential. Yet the silver market’s daily turnover remained far below Bitcoin’s, showing limited immediate crossover between the two assets.
