SkyBridge Capital founder Anthony Scaramucci said Bitcoin (CRYPTO: BTC) is likely to “grind higher” despite weak market sentiment, while warning that the Senate has only a narrow window to pass the CLARITY Act before lawmakers leave for the August recess.
‘Grind Higher‘
In a CNBC interview on July 23, Scaramucci said Bitcoin’s recent consolidation reflects deeply pessimistic investor sentiment rather than deteriorating fundamentals.
“It’s going to grind higher because the sentiment is terrible,” Scaramucci said. CoinMarketCap noted that crypto fear and greed sentiment has consistently remained in the fear zone since mid-May.
Scaramucci pointed to historically depressed fear readings, limited Bitcoin supply available in the market and muted investor interest as conditions that have historically preceded stronger price performance.
