Scaramucci: ‘Bitcoin’s pullback to $60,000 is a normal move for an early-stage asset’

Anthony Scaramucci, founder of SkyBridge Capital, said Bitcoin’s (BTC) sharp drop to around $60,000 at one point this week should be seen as a normal correction phase rather than a structural negative shock.

According to Coinpedia, a cryptocurrency-focused media outlet, on the 7th Scaramucci said in a CNBC interview, “Bitcoin is still an asset in the early stages of adoption,” adding that “early-stage technology assets inevitably come with high price volatility.” He defined Bitcoin not merely as digital gold but as an emerging asset that simultaneously has the characteristics of money and a store of value.

As for the recent divergence in which traditional safe-haven assets such as gold and silver strengthened while Bitcoin weakened, he pointed to differences in investor composition. He said Bitcoin was sidelined in the short term as relatively conservative high-net-worth investors and older cohorts shifted funds into metals.

He also cited regulatory uncertainty as a factor amplifying volatility. Scaramucci stressed that “if the U.S. crypto regulatory framework becomes clearer, participation by financial institutions could expand.”

Still, he assessed that the magnitude of this pullback is limited compared with past cycles. “In the past, a similar correction could have extended into the $30,000 range,” he said, adding that “this time it found support near the 200-day moving average.”

On market sentiment, he noted that the Fear & Greed Index fell to 5, adding that “this is typically a signal seen around market bottoms.”

“This decline is not a structural breakdown but a normal correction,” Scaramucci said. “Volatility is the cost an asset pays as it moves through global adoption.”