This is typical volatility for bitcoin, says SkyBridge's Scaramucci

Scaramucci explicitly states, "I frankly bought more Bitcoin yesterday. I intend on buying more Bitcoin next week." He views the recent 25% drop and subsequent bounce as a standard correction within a bull market. He argues that Bitcoin is still an "early adopting technical asset" rather than a mature inflation hedge. The current price decline was driven by leverage washouts (margin calls), not a change in value. He believes the bottom is likely in because the asset held its 200-day moving average and institutional ETF flows are providing a floor that didn't exist in previous cycles. The "Fear and Greed Index" is currently at 5 (out of 100), which is historically one of the lowest readings and typically signals a contrarian buying opportunity. Additionally, he notes that while Bitcoin dropped, it avoided the deeper historical retest level of $38,000. The "Clarity Act" (regulatory approval) is described as a "coin toss." If the US government does not provide clear regulation, large commercial banks and older, wealthy demographics will continue to prefer Gold and Silver over Bitcoin.