Bitcoin Stalls Below $70K as Old Money Holds Back Rally

Older Money Is Holding Back Bitcoin, Says SkyBridge Founder Anthony Scaramucci

Anthony Scaramucci, founder of SkyBridge Capital, argues that Bitcoin’s subdued reaction to macro pressures reflects a generational divide: older investors still control much of institutional capital and tend to favor traditional safe havens like gold and silver over crypto, dampening Bitcoin’s momentum.

Scaramucci acknowledges that older institutional investors, often in their 60s and managing billions, still favor gold and silver over digital assets, limiting Bitcoin’s ability to benefit from currency debasement the way traditional hedges do. 

Their experience across multiple market cycles reinforces this bias. At the same time, uncertainty around U.S. macro data and global equity markets is heightening investor caution, adding further pressure on crypto prices.

What can be observed? Well, retail demand remains strong, but much of institutional capital is still anchored in traditional assets, slowing the wave of large-scale buying needed to break key psychological price levels.

Generational Divide Keeps Bitcoin’s Rally on a Leash

Bitcoin presently trades at $69,084, just a stone’s throw away from the psychological price of $70,000. Technical signals hint at upside, but cautious institutional activity keeps momentum muted. Recent dips wiped out over $250M in leveraged positions, mostly long trades, as key intraday support gave way.

Therefore, Scaramucci underscores a generational shift shaping Bitcoin’s trajectory. Younger investors, fluent in digital platforms and crypto, are entering the market, but mainstream adoption hinges on older institutional money reallocating assets. 

Until then, Bitcoin’s explosive growth remains constrained by cautious capital flows. CryptoQuant now flags bear signals, rising losses, and weakening on-chain metrics, putting Bitcoin at risk of dropping below $60K.

Conclusion

Bitcoin’s growth reflects both generational shifts and market realities. Younger investors see it as a digital store of value, yet institutional capital still favors gold and silver, tempering momentum. 

As Scaramucci notes, mainstream legitimacy may hinge less on technology than on a gradual change in the investment habits of the world’s largest capital holders.