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Ethereum, the second-largest cryptocurrency, has been gaining ground lately, trading close to $3,800, its highest level in months. But well-known gold advocate and crypto critic Peter Schiff believes this is the perfect time for holders to exit.
In his latest post on X, Schiff suggested that Ethereum is nearing the top of its trading range and that it might be better to sell it now and use the funds to buy Bitcoin instead. Even though Schiff isn’t a fan of either crypto, he sees Bitcoin as the stronger option for the moment.
Ethereum Price Rally Draws Mixed Reactions
The rise in Ethereum’s price is partly due to growing demand from institutions and excitement around Ethereum spot ETFs. In recent weeks, several companies, including BitMine and SharpLink, have added substantial amounts of ETH to their reserves, with some also staking it to earn rewards. Meanwhile, ETH received a major boost during the crypto week, and the passage of three major crypto bills created a strong foundation for the ETH rally.
However, Schiff’s warning has stirred debate among analysts and investors. Many are questioning whether Ethereum’s rally has gone too far too fast. Schiff pointed out that ETH has struggled to outperform Bitcoin lately and that the recent gains may not be sustainable. He said the smarter trade right now could be switching to Bitcoin, especially if Ethereum hits resistance again.
Market Pushback on Schiff’s View
Schiff’s comment sparked reactions across the crypto space. Some argued that Ethereum’s long-term use cases, such as smart contracts and staking, still give it strong upside potential. SharpLink Gaming even responded directly, saying they plan to stake their ETH rather than sell it. Analyst Benjamin Cowen also suggested that the ETH to BTC price ratio had already bottomed before Schiff made his call, meaning the timing might not be ideal.
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People on X even mocked him for giving the same advice for Bitcoin previously.
What investors should watch
Right now, Ethereum is showing strong momentum, but Schiff’s warning is a reminder that price swings can come fast. Traders should watch whether ETH continues to push higher or if resistance near current levels sends it lower.
If momentum slows, Schiff’s idea of rotating into Bitcoin could gain more support. Either way, the market is clearly at a key turning point, and how Ethereum performs next will likely set the tone for altcoins in the coming weeks.
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FAQs
As of July 22, 2025, Ethereum is trading around $3,700 to $3,800, testing resistance in the $3,877 to $3,987 range. It has shown a slight daily decline in some reports but has seen significant weekly gains.
As the altcoin season begins, the short-term gains make Ethereum a lucrative buying option. However, the long-term promises of this programmable blockchain make it a viable long-term crypto investment.
Investors should watch if ETH breaks resistance or pulls back; this will likely set the tone for altcoins in the coming weeks.
