Happy Thursday!

Peter Schiff is never shy to fade a Bitcoin rally, even one that triggered a massive short liquidation cascade. Why does he continue to back gold over BTC?

Ripple is still hanging in there and may soon reap the rewards from its efforts to lobby the administration for friendlier regulation. Here’s what came out of the Crypto Summit.

Plus, learn how to use options-based income strategies to capture market upside and generate consistent monthly distributions. Join Jay Hatfield, CEO of Infrastructure Capital Advisors and Benzinga on Thursday, September 10. Register For Free

TOP STORY

'Sell Bitcoin, Buy Gold,' Says Peter Schiff: Bitcoin's Rally Is A 'Fakeout, Not A Breakout'

Bitcoin blasted above $72,000, but Peter Schiff says don’t chase it — “sell Bitcoin, buy gold.”

Schiff argues the rally is a fakeout driven by a short squeeze after the Treasury’s bond buyback surprise, not a real demand breakout, even as BTC outpaced gold over the past 24 hours.

Bulls see it differently: analysts point to Bitcoin’s strength versus GLD, a potential path toward $140,000, rising trading volume and Trump’s fresh push for the CLARITY Act as signs the move may have legs.

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MARKET MINUTES

Bitcoin is in part surging to Scott Bessent’s intervention in the Treasury market. What does that mean and why is Raoul Pal calling it bullish?

Crypto bears were carried out on a stretcher yesterday evening, after Bitcoin’s brutal surge triggered the biggest short-liquidation cascade in history.

XRP is up an eye-popping 18% over the past day. How much higher can it go?

FINTECH FOCUS

Ripple CEO Garlinghouse Says Crypto Isn't 'Fringe' After President Trump Declares U.S. Is 'Winning'

Crypto got another White House momentum boost, and Ripple CEO Brad Garlinghouse says the message is clear: digital assets are no longer “fringe.”

After President Donald Trump declared the U.S. is “winning” the crypto and AI race, executives from Ripple, Coinbase and Robinhood pointed to rising political support, nearly 67 million American crypto holders and a critical Sept. 15 CLARITY Act vote as catalysts that could keep the rally alive.

XRP, Bitcoin, Ethereum, Coinbase and Circle all caught a bid as traders bet Washington may finally be lining up behind the industry.

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