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Bitcoin seems to have shifted into a bearish mood as it retests the $113,000 price level, raising questions about a potential bear market phase. However, Anthony Scaramucci remains confident that BTC will recover from the ongoing downtrend and surge to a new high of $180,000 and beyond in 2025.
Scaramucci Keeps $200,000 Bitcoin Year-End Target Alive
Despite the robust downward movement in price, many analysts are still optimistic about Bitcoin’s potential in the short term, predicting a move to new all-time highs. Anthony Scaramucci, founder of SkyBridge Capital and a long-time Bitcoin advocate, has reignited bullish hopes as he recalled his end-of-year BTC prediction.
During an interview on CBNC posted by Altcoin Daily on the X platform, Anthony Scaramucci maintains that BTC is on track to reach between $180,000 and $200,000 by year-end. The founder’s prediction is backed by tightening supply dynamics, boosting institutional adoption, and growing global recognition of Bitcoin as a hedge asset.
According to Scamaracci, Bitcoin remains bullish in any scenario, expressing his hopes that United States President Donald Trump will pick the mama bear fed. His belief reflects an increasing number of well-known investors who think that Bitcoin’s next leg higher could be much more explosive than prior cycles.
When asked about the base and most bullish case for BTC, Scaramucci started by highlighting the current state of the market. “I think what is happening now is lots of consolidation and institutional adoption,” he stated.
Years ago, BTC’s price action was mostly driven by retail adoption and CEOs working in the layer 1 blockchain space. However, this trend has started to shift towards the institutional level over time, as large corporations accumulate the crypto king at a substantial rate.
A Transition Of BTC Ownership Ongoing In The Market
The founder has pointed to the robust performance of BlackRock’s Bitcoin Spot ETF, the IBIT, which has attracted a wide range of retail and institutional investors. While institutional adoption is increasing, Bitcoin whales continue to offload their holdings.
Scaramucci considers this pattern a crucial development, declaring it a shift in ownership. “I just think it is a function of buying in only 450 Bitcoin being made by the network per day,” he added. During this shift in ownership, the founder noted that demand for the flagship asset has surpassed issued supply or the overall available supply of BTC in the market.
Considering these developments, the founder is confident that BTC still has room for more growth, potentially reaching his bullish target between $180,000 and $200,000 this year. This bold prediction suggests the current pullback is likely a healthy correction before another explosive move.
Even though many other companies and analysts foresee a much higher target for Bitcoin by this year’s end, Scaramucci remains firm with his prediction, calling it a cautious price target.
BTC trading at $113,707 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com
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