Scaramucci: Don’t Panic, Bitcoin’s Fundamentals Remain Strong Despite $72K Drop

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Scaramucci Tells Crypto Community Not to Feel Terrible About $72K

Anthony Scaramucci, the founder of SkyBridge Capital, is advising Bitcoin investors not to let their feelings influence their decisions.

Bitcoin previously reached record highs, but it’s now experiencing a significant drop in price.

Recently, as U.Today reported, the price of Bitcoin sharply dropped over the weekend, falling to around $72,000.

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Even though the market is worried, Scaramucci believes the network’s core value hasn’t changed.

Anthony Scaramucci recently shared on X that while many are upset with Bitcoin’s current price around $72,000 after it previously reached $126,000, it’s important to remember that the underlying asset hasn’t changed. He points out that he held one Bitcoin both during the peak and the downturn, and that it’s our *feelings* about the price that fluctuate, not the Bitcoin itself.

He concluded his message with a firm declaration: “Nothing stops this train.”

Vicious weekend squeeze

Scaramucci’s reassuring words arrive just as market sentiment takes a fresh hit.

Those holding contracts for the long haul weren’t worried, but short-term traders were surprised early Sunday morning.

Bitcoin printed a massive red candle at 1 a.m. UTC, plummeting to a wick low of $71,349.

In a single day, nearly 120,000 cryptocurrency traders lost their positions, resulting in over $189 million in losses within the first 12 hours.

Traders who had borrowed heavily to make bets that prices would go up experienced the biggest losses, totaling $132.80 million over a 12-hour period. This accounted for the majority of all liquidations during that time.

The drop even prompted notorious gold bug and crypto skeptic Peter Schiff to take a victory lap.

Surviving bear market exhaustion

For Scaramucci, the current market chop is a test of endurance.

In February, the financier admitted that the cryptocurrency market had entered a downturn, and the main concern was how long it would continue. He also lowered his earlier estimate for the peak value of this cycle, revising it down from $170,000 to $150,000.

Anthony Scaramucci believes a divide between younger and older investors is currently the biggest challenge for Bitcoin. He recently explained that while cryptocurrency is popular with newer investors, more traditional, established investors tend to be more cautious and slower to adopt it.

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2026-04-12 13:54