Anthony Scaramucci Calls Bitcoin Crash a 'Normal' Cycle Correction, Expects Bull Run in Q4

Scaramucci frames Bitcoin's decline as a standard cyclical event

SkyBridge managing partner Anthony Scaramucci has characterized the ongoing Bitcoin downturn as a routine correction within the asset's four-year market cycle. Speaking on The Wolf Of All Streets podcast, he predicted the next bullish phase will begin in the fourth quarter of this year.

Scaramucci explained that large market participants believe in the four-year cycle, and that belief effectively becomes a self-fulfilling prophecy. He acknowledged that spot Bitcoin ETFs have dampened cyclical swings by channeling institutional capital into the market, reducing volatility — but historical patterns have not vanished entirely. Some analysts, however, argue that four-year cycles have already lost their relevance.

Why this matters

Scaramucci's perspective carries weight given his role managing a major investment fund with significant crypto exposure. His cyclical framework offers institutional investors a lens through which to interpret the current sell-off: if the decline is indeed cyclical, a recovery phase should follow. For market participants weighing entry points, the distinction between a structural breakdown and a cyclical correction is critical.

Expectations vs. reality: the $150K miss

The SkyBridge chief admitted he had anticipated Bitcoin reaching $150,000 in 2025 — a view widely shared across the market following Donald Trump's election as U.S. president. That consensus was shattered in October when a massive wave of liquidations sent Bitcoin plunging from its all-time high above $126,000 to $60,000.

Scaramucci drew a parallel with early 2023, when the market was mired in apathy after the FTX collapse — and that was precisely when the bullish phase kicked off. Markets frequently reverse against prevailing sentiment, he argued, calling the current drop a normal correction no different from previous ones. He expects Bitcoin to trade sideways for most of the year, with upward momentum returning only in Q4.

Market snapshot: BTC drops below $69,000

Over the weekend, Bitcoin fell below $69,000 amid escalating conflict in Iran, now in its fourth week. Trump has threatened further strikes against the country's energy infrastructure, adding pressure to global markets.

BTC/USDT hourly chart on Binance. Source: TradingView

At the time of writing, BTC was trading around $68,400 — down 1.1% over 24 hours and nearly 8% over the past week. Ethereum slipped to $2,000, losing 3% in the last day.

Ethereum price action. Source: CoinGecko

According to CoinGlass, total liquidations exceeded $383 million, with the majority hitting long positions. The popular fear and greed index signals "extreme fear."

Crypto Fear and Greed Index. Source: Alternative.me

Asian equity markets opened sharply lower on March 23: Japan's Nikkei shed 3.7%, China's Shanghai index dropped 4%, Hong Kong's Hang Seng fell 4.2%, and Australia's S&P/ASX 200 declined 0.8%. Gold tumbled nearly 7% to $4,128 per ounce, while silver lost 8.9% to $61.9. Brent crude jumped 2% to $108, and WTI traded at $100, up 2.2% on the day.

ETF flows: Bitcoin funds extend streak, Ethereum funds bleed

Despite broad market weakness, spot Bitcoin ETFs recorded their fourth consecutive positive week. Between March 16 and 20, these instruments attracted a combined $95.1 million in net inflows, though positive flows were observed in only two of three trading days.

BTC ETF flow data. Source: SoSoValue

Ethereum ETFs, by contrast, ended the week with nearly $60 million in net outflows. XRP and Solana products drew $600,000 and $21 million, respectively.

ETH ETF flow data. Source: SoSoValue

Earlier, on March 18, Alphractal founder Joao Wedson warned that Bitcoin could slide below $60,000 if the $69,000–$70,000 support zone fails to hold.