Anthony Scaramucci tells Bitcoin holders to stay calm

Anthony Scaramucci urged Bitcoin investors to stay focused after the asset dropped into the $72,000 range. He said the recent sell-off changed market sentiment, but not Bitcoin itself.

SkyBridge Capital founder Anthony Scaramucci told the crypto community not to panic as Bitcoin faced fresh pressure. In a post on X, he said investors should not let price swings change their view of the asset.

He wrote, ”Bitcoin got us to $126,000. So now we feel terrible at $72,000.” He added that the asset remained the same even though emotions had shifted with the market.

Scaramucci said a holder who owned one Bitcoin before the rally still owned one Bitcoin after the drop. His message focused on separating short-term price action from long-term conviction.

He also warned against reacting to fear during periods of stress. His broader point was that investors should avoid making decisions based only on recent losses.

Sharp sell-off hits leveraged traders

Bitcoin came under heavy selling pressure during weekend trading. The asset dropped sharply and touched a low near $71,349 after printing a large red candle early Sunday.

Nearly 120,000 traders were liquidated within 24 hours, while losses reached almost $189.85 million over 12 hours.

Long traders took the largest hit during that stretch. Data in the report showed that leveraged long positions accounted for $132.80 million of the 12-hour liquidation total.

The sell-off added to the weak mood in the market. It also gave critics such as Peter Schiff another opening to question Bitcoin’s strength.

Bear market pressure remains

Scaramucci has already said the crypto market entered a bear phase earlier this year. He previously said the main issue was no longer whether the market had turned, but how long the pressure would last.

He also lowered his earlier Bitcoin cycle target from $170,000 to $150,000. That shift reflected a more cautious view as the market lost momentum.

Scaramucci pointed to what he called ”demographic tension” as one reason for the slower pace. He said crypto adoption still depends heavily on younger investors, while older capital tends to move more slowly.

Even so, his latest message remained clear. He told investors to ignore short-term noise, avoid excess leverage, and focus on the asset itself.