$100K Triggered a Wave of Bitcoin Selling
Anthony Scaramucci, founder of SkyBridge Capital, believes the $100,000 level played a major role in Bitcoin’s recent market sell-off.
According to Scaramucci, many investors who had held $BTC for 10–15 years saw $100K as a good opportunity to take profits. As more long-term holders started selling, expectations of further selling grew and created a self-reinforcing cycle, putting additional pressure on the market.
At the same time, early Bitcoin holders are gradually being replaced by institutions, family offices and financial advisors.
SkyBridge believes this shift could eventually reduce Bitcoin’s volatility and strengthen its position as a long-term store of value.
Anthony Scaramucci, founder of SkyBridge Capital, believes the $100,000 level played a major role in Bitcoin’s recent market sell-off.
According to Scaramucci, many investors who had held $BTC for 10–15 years saw $100K as a good opportunity to take profits. As more long-term holders started selling, expectations of further selling grew and created a self-reinforcing cycle, putting additional pressure on the market.
At the same time, early Bitcoin holders are gradually being replaced by institutions, family offices and financial advisors.
SkyBridge believes this shift could eventually reduce Bitcoin’s volatility and strengthen its position as a long-term store of value.