Scaramucci sees resilience in Bitcoin’s shallower bear market

Scaramucci attributed the price weakness partly to a shift in institutional capital, noting that investors have increasingly favored artificial intelligence assets over cryptocurrencies. This trend is compounded by miners repurposing infrastructure for high-performance computing as mining margins tighten. Data from BlackRock supports this observation, showing AI-focused funds absorbing over $46 billion since Bitcoin’s record high, while spot Bitcoin ETFs faced roughly $5 billion in net outflows.

While the current price near $64,000 remains far below the $126,000 all-time high, Scaramucci maintains a bullish long-term outlook tied to Bitcoin’s four-year halving cycle. He anticipates the supply reduction will eventually push prices above $100,000, though he acknowledged the market may experience prolonged sideways movement before any sustained recovery. His assessment contrasts with more cautious research from VanEck, which recently reported that most of its capitulation signals were active, suggesting that historical patterns do not guarantee a rapid turnaround for the asset.