Anthony Scaramucci said Bitcoin (BTC) may not stage a meaningful recovery before October or November, arguing the drawdown still tracks the asset's familiar four-year cycle.
Scaramucci Cycle Call
The SkyBridge Capital founder shared the timeline on the Thinking Crypto podcast, recorded at the Solana Policy Summit.
He called the slump a cyclical bear phase rather than a structural break.
Investors had anticipated a stronger policy rally after the change in administration. Instead, whales and long-time holders kept selling into ETF demand, he said, pumping coins into supply near $100,000 and dragging prices into the high $60,000s.
Scaramucci conceded the timeline may be nudged by macro factors, including President Donald Trump's tariff messaging and geopolitical tensions. BTC has held "fairly sticky" through recent conflict.
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ETF Demand, Clarity Act
Boomers are buying through brokerage channels, but ETF flows cannot absorb whale distribution alone, he argued.
Scaramucci tied deeper institutional adoption to the Clarity Act, saying banks will not fully open custody, yield, and lending desks without clearer rules.
He cited pilot custody programs at Bank of New York and SoFi.
Scaramucci also backed a strategic Bitcoin reserve, provided the debate moves past partisan framing.
BTC traded near $77,528 at press time, well below its $126,000 peak from late 2025. The decline followed a sharp October drop that ended the post-halving year at a net loss, a rare outcome for the asset.
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