So, here's the thing about bear markets: according to Anthony Scaramucci, they're not about fear. They're about exhaustion. On Sunday, the financier and very public crypto advocate said he believes markets have indeed slipped into a bear phase. But for him, the real question isn't "Are we in one?" It's "How long will this last?" His answer, wrapped in a bit of market psychology, is that these things linger until everyone just runs out of steam.
And his prescription for this weary market? Keep buying Bitcoin (BTC). This isn't a new tune for Scaramucci—it's the "accumulate, don't speculate" messaging he's been playing for years. But his latest comments add a fresh layer to the argument.
In a post on X, he suggested that if the current market move were purely about anxiety over inflation and weakening purchasing power, Bitcoin would be "ripping higher." Instead, he sees a split. On one side, you have "young money" flowing into crypto. On the other, older institutional allocators are, for now, leaning toward traditional safe havens like gold and silver. In his view, Bitcoin is still a "younger-market trade" working through its adoption cycle.
When Does the Bear Market End?
Scaramucci's got a theory about market cycles. He says he's been through nine bear markets and has watched sentiment overshoot fundamentals every time. The twist? He argues that downturns don't usually stop because fear magically disappears. They stop because the participants—the sellers, the pessimists, the doomsayers—simply get worn out.
"When pessimism becomes the loudest sound," he posted, "investors are often positioned too lightly for a turn." Think about that. The moment everyone is screaming that the sky is falling might be the exact moment they've sold too much and aren't ready for a bounce. It's a classic contrarian setup: the loudest bears can coincide with investors being under-allocated, not overexposed.
This "exhaustion" framing lands with a certain weight because of Scaramucci's long-running role as a bitcoin promoter. He's written "The Little Book of Bitcoin" and uses his platform to push the narrative consistently. For retail investors looking for cues during a prolonged slump, his voice carries a specific kind of signal.
The $150,000 Target and Regulatory Hope
Of course, any discussion of Scaramucci and Bitcoin has to touch on the famous price target. He kept a $150,000 year-end target for Bitcoin in place for much of last year. Then, in September, he admitted he missed the call. He said he didn't account for what he described as "massive" selling from bitcoin whales.
But he hasn't abandoned the optimism. In earlier statements, he's expressed a belief that changes in U.S. crypto policy could be the key to unlocking that kind of price. He's suggested that a less politicized regulatory environment could foster serious growth in decentralized finance and blockchain. So, in his analysis, the current bear phase isn't just about exhaustion; it's also playing out against a backdrop of potential regulatory reform that could change the game.
