Pompliano Says Bitcoin Near Bear-Market Bottom, Sees Buying Opportunity for Long-Term Investors

Anthony Pompliano, founder of crypto investment firm Pomp Investments, said Bitcoin is nearing the bottom of its bear market.

Pompliano told CNBC on June 10 that Bitcoin is now close to a bear-market bottom.

In past bear markets, Bitcoin often dropped more than 80% from its peak. This cycle, the decline has been limited to about 50%, he said.

He attributed the smaller drawdown to rising institutional participation, saying inflows from larger investors have reduced volatility and limited the downside.

Pompliano also said the share of Bitcoin supply currently sitting at a loss now exceeds the share in profit.

He said that pattern has repeatedly appeared in the later stages of past bear markets and may signal that market participants are capitulating.

For long-term investors, the current range could present an attractive opportunity to build positions gradually, he added.

Bitcoin has remained under pressure recently as spot ETF outflows and weaker investor sentiment weigh on the market. Even so, some long-term investors and institutions are focusing on the possibility that a bottom is forming.