Scaramucci Tells Crypto Community Not to Feel Terrible About $72K
News By Alex Dovbnya Sun, 12/04/2026 - 10:33 For now, the SkyBridge founder's message to the market is clear: ignore the short-term noise, avoid dangerous leverage and recognize that the underlying asset has not changed. Advertisement
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SkyBridge Capital founder Anthony Scaramucci is urging Bitcoin investors to keep their emotions in check.
After tapping historic highs earlier in the cycle, Bitcoin has been facing severe downward pressure.
Most recently, as reported by U.Today, it endured a sharp weekend sell-off that dragged the price down to the $72,000 range.
HOT Stories Ripple Vet Questions NYT Reporter's Satoshi Hunt Proof Midnight (NIGHT) Open Interest 100% Spike Could Be Followed, Ethereum's (ETH) Only Possibility to Reach $3,000, XRP to Face Crucial Resistance Next Week: Crypto Market ReviewDespite the market anxiety, Scaramucci insists that the fundamental value of the network remains entirely intact.
Advertisement"Bitcoin got us to $126,000. So now we feel terrible at $72,000," Scaramucci wrote in a recent post on X. "But here's the thing — you own Bitcoin. I owned one Bitcoin before the rally. I owned one Bitcoin during the bear market. Same Bitcoin. Different feelings. The asset didn't change. The price did."
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He concluded his message with a firm declaration: "Nothing stops this train."
AdvertisementVicious weekend squeeze
Scaramucci's reassuring words arrive just as market sentiment takes a fresh hit.
Long-term spot holders may be unfazed, but short-term speculators were caught completely off guard early Sunday morning.
Bitcoin printed a massive red candle at 1 a.m. UTC, plummeting to a wick low of $71,349.
Almost 120,000 traders were liquidated across the broader crypto market in just 24 hours. A staggering $189.85 million was wiped out within just 12 hours.
Over-leveraged long positions bore the brunt of the damage, accounting for $132.80 million of the 12-hour liquidation total.
The drop even prompted notorious gold bug and crypto skeptic Peter Schiff to take a victory lap.
Surviving bear market exhaustion
For Scaramucci, the current market chop is a test of endurance.
Back in February, the financier explicitly conceded that the cryptocurrency sector had entered a bear market, noting that the question was no longer if, but how long it would last. Earlier this year, he also revised his previous $170,000 cycle prediction down to $150,000.
Scaramucci has pointed to a clear "demographic tension" as the main headwind for Bitcoin right now. "Crypto is still young money. Old money moves slower," he explained earlier this year.
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