TL;DR
- Anthony Scaramucci says Bitcoin’s roughly 55% decline is relatively modest compared with previous bear markets, which often saw 75% to 80% drawdowns.
- He points to capital shifting toward artificial intelligence and Bitcoin’s market cycle as factors behind subdued prices.
- Scaramucci remains bullish long term, arguing that the 2028 halving could tighten supply and help Bitcoin recover above $100,000.
Bitcoin’s roughly 55% decline has placed the market firmly in bear-market territory, but SkyBridge Capital founder Anthony Scaramucci sees a constructive signal in the size of the drawdown. He argues that Bitcoin’s smaller loss compared with prior cycles may reflect stronger underlying demand.
Scaramucci made the comments during the SALT Wyoming Blockchain Symposium in Wyoming, focused on digital assets and regulation. He described the current phase as a clear Bitcoin bear market, while noting that previous downturns often produced losses of 75% to 80%.
That comparison is central to his optimistic view. If Bitcoin has attracted enough buyers to limit the decline to about 55%, Scaramucci believes the market could be entering a healthier reset rather than another deep capitulation. The view suggests demand may be absorbing selling pressure more effectively than before.
Bitcoin Bear Market Shows Signs Of Greater Resilience
Several forces are weighing on prices. Scaramucci pointed to capital moving from crypto toward artificial intelligence investments, while some Bitcoin miners have also explored AI-related opportunities as they seek additional revenue. The shift has contributed to muted trading.
The Bitcoin supply cycle is another factor. The latest halving occurred in April 2024, cutting the mining reward from 6.25 BTC to 3.125 BTC per block. The next halving is expected in 2028, when the reward is scheduled to fall to 1.5625 BTC. That reduction remains central to Bitcoin’s scarcity thesis.
Institutional participation also gives the current market a different structure from earlier cycles. Spot Bitcoin ETFs have expanded regulated access for traditional investors, while financial firms continue developing products around digital assets. These developments give Bitcoin a broader investor base than in previous bear markets.
Why Scaramucci Still Expects Bitcoin To Recover
Scaramucci remains bullish on Bitcoin long term and expects the next halving to tighten new supply. He believes reduced issuance, combined with sustained demand, can eventually push Bitcoin back above $100,000.
Scaramucci also expects a gradual recovery. Rather than expecting an immediate rebound, he sees a period of consolidation before the market regains momentum. Investors are balancing macro conditions, AI capital flows and the next supply reduction.
