Skybridge Capital’s Anthony Scaramucci believes that the current Bitcoin (BTC) bear market is not changing the crypto asset’s long-term uptrend.
In an interview with Scott Melker, Scaramucci acknowledges the depressed sentiment among Bitcoin holders, noting that BTC lost about half of its value from its all-time high recorded last year.
According to Scaramucci, the price and the sentiment surrounding BTC may have changed, but the asset did not.
“Bitcoin got us to $126,000, so now we feel terrible at $65,000. And the truth is you own Bitcoin. So I owned one Bitcoin before the rally. I owned one Bitcoin during the bear market.”
Scaramucci believes that BTC will continue to grind higher over a long arc of time, similar to how it has performed since inception.
“Frankly, I bought more Bitcoin, but I’m making the point, you own Bitcoin, stay the course. Nothing stops this train.”
Data from crypto analytics firm Glassnode shows that at the $70,800 price point, the number of Bitcoin addresses in loss stands at 13.5 million.
“This indicates that a meaningful portion of the network acquired coins above the current spot price.”
Glassnode adds that recent rallies above $70,000 were being met by intense selling pressure, limiting the bounce.
“Another bounce to >$70k range was exhausted by >$20M/Hour profit realization.”
Despite the bearish backdrop, Fundstrat’s Tom Lee said last week that crypto has been the strongest asset class amid geopolitical tensions. Bitcoin, in particular, is up about 20% since it printed its 2026 lows at $60,000 on February 26th.
BTC is currently trading at $71,199.
Photo by Yiğit Ali Atasoy on Unsplash
Disclaimer: Opinions expressed at CapitalAI Daily are not investment advice. Investors should do their own due diligence before making any decisions involving securities, cryptocurrencies, or digital assets. Your transfers and trades are at your own risk, and any losses you may incur are your responsibility. CapitalAI Daily does not recommend the buying or selling of any assets, nor is CapitalAI Daily an investment advisor. See our Editorial Standards and Terms of Use.