Bitcoin Surges Past $69K, Could $100K be Next?
Bitcoin has broken above $69,000 for the first time since June, jumping over 8% in 24 hours. Anthony Scaramucci credits the upcoming halving cycle and tighter supply as key factors that could push BTC back above $100,000.
Scaramucci pointed to three factors behind Bitcoin's muted price action: some miners shifting computing power toward AI-related activities, reducing volatility; capital moving away from crypto into the booming AI sector, lowering liquidity in digital assets; and the traditional four-year Bitcoin cycle. The market is now more than two years into this cycle, with about 18-19 months remaining until the next halving.
According to Scaramucci, as the halving approaches and fewer new coins are produced, demand could begin having a greater impact on price. 'You'll see the thing move back up over $100,000,' he said.