Anthony Scaramucci urges calm as Bitcoin slips into the $72K range
SkyBridge Capital founder Anthony Scaramucci urged Bitcoin investors to keep perspective after the market plunged into the low $70,000s over the weekend. Posting on X, Scaramucci argued that the sell-off altered sentiment — not the underlying asset — and called on holders to avoid panic-driven decisions.
“Bitcoin got us to $126,000. So now we feel terrible at $72,000,” he wrote, noting that a holder who owned one Bitcoin before the rally still owns one after the drop. His message: separate short-term price swings from long-term conviction and don’t let emotions dictate strategy.
Weekend rout and fallout
Bitcoin slid sharply early Sunday, printing a large red candle and briefly touching a low near $71,349. The move sparked massive liquidations across the crypto market — nearly 120,000 traders were wiped out within 24 hours — and produced roughly $189.85 million in losses over a 12-hour span. Leveraged long positions bore the brunt, accounting for about $132.80 million of that 12-hour total.
The downturn deepened a bearish mood and provided fodder for critics such as Peter Schiff, who questioned Bitcoin’s resilience after the sell-off.
Scaramucci’s evolving outlook
Scaramucci has previously acknowledged that the crypto market entered a bear phase earlier this year, and has shifted to a more cautious tone as momentum softened. He trimmed his prior Bitcoin cycle target from $170,000 to $150,000, saying the key question is no longer whether the market has turned but how long the pressure will persist.
He also cited “demographic tension” as a drag on adoption: crypto demand remains concentrated among younger investors, while older, larger pools of capital tend to deploy more slowly.
The takeaway
Despite the price pain, Scaramucci’s takeaway was straightforward: ignore short-term noise, avoid excessive leverage, and focus on the fundamentals of the asset rather than knee-jerk reactions to market swings.
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