Anthony Scaramucci is not changing his tune. The SkyBridge Capital founder told CNBC that Bitcoin is going to “grind higher”, and his reasoning has not shifted much from what he has been saying for months.
The sentiment is too negative. The selling is exhausted. The fundamentals have not moved.
Bitcoin is trading near $65,000 today. The Fear and Greed Index sits at 28. Crypto fear readings have stayed in negative territory since mid-May without a meaningful break.
“It’s going to grind higher because the sentiment is terrible,” Scaramucci said.
The same call, made consistently
This is not a new position. Earlier, Scaramucci made a five-point bull case for Bitcoin that rested on almost identical logic, mechanical selling pressure rather than fundamental deterioration, institutional infrastructure that does not disappear because the price has fallen, and the historical observation that maximum pessimism has marked Bitcoin’s entry points before.
Related: XRP is down 69%, yet millionaires are buying
“Every bottom looked like this,” he said then.
A week later, when Bitcoin was still in the low $60,000s, he called the $70,000 level achievable before the end of July, pointing to overcrowded negative sentiment and exhausted selling pressure as the primary drivers.
July is nearly over. The $70,000 target has not been hit. But his broader directional read, that the asset grinds rather than surges from here, has aged reasonably well.
The CLARITY Act is the other conversation
During the interview, Scaramucci also flagged the narrowing window for the CLARITY Act. Congress has roughly two weeks before August recess.
The updated Senate draft adds ethics provisions that have drawn Democratic pushback, specifically around whether state attorneys general share enforcement authority with the DOJ.
He was direct about what happens if it does not make it to the floor before recess. “It dies a brutal death,” he said. And crypto companies, he warned, keep expanding abroad.
The bill matters for Bitcoin’s trajectory because it is the single catalyst most likely to unlock a new wave of institutional allocation. Without it, the grind continues.
Related: Tesla sends a quiet but powerful message on Bitcoin
This story was originally published by TheStreet on Jul 24, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.