The price of Bitcoin (BTC) has dropped significantly, falling below $69,000 amid ongoing geopolitical tensions, including the conflict in Iran. Anthony Scaramucci, managing partner at SkyBridge, attributes the current bear market to a combination of the four-year cycle and long-term holders selling at the psychological threshold of $100,000.
During a discussion on the “Wolf of All Streets” podcast, Scaramucci noted that while institutional investments and BTC exchange-traded funds (ETFs) have reduced volatility, they have not completely eliminated the effects of traditional market cycles. He anticipates that the price will remain volatile until the fourth quarter of 2026, when a new bull market is expected to emerge.
Despite earlier predictions of BTC reaching $150,000 in 2025 due to favorable regulatory conditions and political support, the recent market crash has disrupted these expectations. Scaramucci described the current downturn as a "garden variety" correction, suggesting it aligns with historical patterns, while ongoing debates exist regarding the relevance of Bitcoin's four-year cycle theory.