An Analyst Reacts After the Worst Silver Crash: Bitcoin in Danger According to Him

The author of The Black Swan, Nassim Taleb, returns to the spotlight with a severe warning. According to him, bitcoin faces a major danger amid the growing instability of derivative markets.

Bitcoin and leverage: the explosive cocktail denounced by Taleb

On December 29, the silver price fell sharply by 9%. It is its largest daily drop since 2020. This unexpected crash awakened Nassim Taleb, a regular critic of bitcoin. He indeed sees it as an alarming signal for the markets.

On X, Taleb states that the silver crash has nothing to do with industrial demand or jewelry. It results from excessive leverage, tightened margins, and forced liquidations in a chain reaction.

According to him, this mechanism could hit bitcoin with similar intensity. Taleb even accuses crypto-assets of being fueled by cheap credit and unlimited speculation. When volatility rises, margin calls force positions to be liquidated one after the other. The crypto derivatives market is no exception to this logic.

A harsh analogy: Bitcoin, the new digital tulip mania?

True to his position, Taleb continues to compare bitcoin to an asset without real value. He willingly classifies it in the category of “electronic tulips,” referring to the famous 17th-century tulip mania. According to him, bitcoin has indeed failed as a currency, as a safe haven asset, and as a diversification tool. It therefore provides no fundamental utility.

The partial rebound of the silver price (+3.1% the next day) was not enough to reassure Taleb, who predicts new waves of liquidations if volatility remains high. Some crypto analysts still envision a bullish trajectory toward $90.90 in 2026. But the prospect of a violent purge looms over leveraged assets, with bitcoin at the forefront.

For the author, the system rests on a fragile balance. An exogenous shock or investor panic would be enough to trigger a series of massive sell-offs. Bitcoin, already subject to strong fluctuations, could therefore collapse without warning.

In any case, warning signals are multiplying. It remains to be seen whether investors will heed this warning or maintain their bet. The fate of bitcoin could well be decided in the coming weeks.