Foreign media: Scaramucci says bitcoin bear market dips are relatively mild

According to foreign media, SkyBridge Capital founder Anthony Scaramucci believes that although Bitcoin remains in a bear market, the current pullback is not as deep as in previous cycles, which may indicate that market support still exists.

The current pullback is below historical levels

During an interview with CNBC at the Wyoming Blockchain Symposium, part of the SALT Conference, Scaramucci stated that Bitcoin has declined about 55% from its high in this cycle. In his view, this drop is still characteristic of a bear market, but is clearly lower than the common 75% to 80% seen in the past.

He believes that a shallower decline is not necessarily a negative signal; on the contrary, it may suggest there is still net buying in the market, leaving a base for the next phase of price increases.

• The current pullback is about 55%
• In past bear markets, declines of about 75% to 80% were common
• He views this difference as a sign that buying interest remains

Funds shifting to AI and miner adjustments

He also stated that Bitcoin’s price fluctuations have been limited recently, with the overall trend remaining weak. According to him, since the outbreak of war in February this year, Bitcoin’s price has mostly remained in a similar range, with the market moving sideways.

Scaramucci attributes this performance to several factors, including some mining companies redirecting resources to AI businesses, as well as funds flowing from the crypto market into the AI sector. This has affected not only Bitcoin but has also dragged down the performance of other tokens.

May remain subdued before the next halving

He also linked the current trend to Bitcoin’s four-year cycle, noting that the market has entered a typically weaker stage and that there are about 18 to 19 months until the next halving.

In his view, once the halving tightens new supply, the price could be pushed upward again. He expects that Bitcoin could have the opportunity to break above $100,000 in the future, but before then, the price may continue to move slowly and sideways for some time.