Bitcoin rose by more than 8 per cent in 24 hours, repositioned on $69,000, for the first time in June. As prices rebounded rapidly, the market again focused on when bitcoin returned to $100,000.

Scaramucci's bet halved. Response

In an interview with CNBC recently, SkyBridge Capital founder Anthony Scaramucci said that the next halving cycle and the reduction of new supplies could push bitcoin up another $100,000. In his view, the impact of demand on prices would be more direct as new currency output fell.

Scaramucci also mentioned that Bitcoin had been running over a long period of time, partly because of the phased flow of funds to the AI block, which had weakened the flow of liquidity into the encryption market.

Change in holding structure

SALT CEO John Darsie said that the bitcoin holder structure was changing. The partial withdrawal of early investors is being accompanied by an increase in the allocation of bitcoin by institutions, finance advisers, family offices and sovereign funds.

In his view, such a change could reduce the volatility of bitcoin and enhance its value storage properties.

  • Institutional participants include advisers, family offices and sovereign funds
  • The change in the holding structure is considered to be a mitigating factor
  • Market narratives are moving from early speculation to long-term configuration.

$74,000 is critical.

In addition to the long-term perspective, the market is also focusing on the nearer range of prices. Encryption analyst Ted argued that $74,000 was a key position for bitcoin. If the weekly line is repositioned at this level, the probability of a break-down of $55,000 will decline significantly.

If this location cannot be restored, the market still has to face the risk of a deeper reversal. On the other hand, the Citi flag gave a target price of $189 million bitcoin in 2026, further reinforcing the optimistic expectations of some agencies.

However, market judgements are not consistent. Although Scaramucci expects that the tightening of supply will support the continued upswing in prices, there are analysts who believe that bitcoin is likely to travel down the $47,000 area in weaker circumstances.