Scaramucci and Novogratz Bet on a Bitcoin Rally to $70,000 in July: A Macro-Driven Momentum?

Institutional investors Anthony Scaramucci, founder of SkyBridge Capital, and Mike Novogratz, CEO of Galaxy Digital, reaffirmed their forecast for Bitcoin (BTC) to return to 70,000 USD by July 2026 during an interview broadcast on All Things Markets . Their optimism comes amid a marked negative sentiment around the asset, following an extended period of weakness for cryptocurrencies. Despite a market capitalization of 1,276.5 billion USD and a CryptoScore Pro rating of 80/100 , Bitcoin remains under pressure, with a 24-hour trading volume of 602.4 million USD . What Happened Scaramucci and Novogratz believe the market has become « too negative » toward Bitcoin, suggesting a buying opportunity for investors. Their forecast of a rally toward 70,000 USD aligns with broader discussions on the impact of monetary policies and crypto regulations in the United States. Both figures emphasize that U.S. lawmakers are currently debating taxes and predictive markets, which could influence investor confidence. Their statement coincided with Bitcoin falling below 60,000 USD , highlighting persistent market volatility and psychological challenges for participants. Why It Matters A rally to 70,000 USD would imply a recovery of 16.7% from current levels, a move that would require a return of investor confidence and stabilization of Bitcoin ETF flows. Historically, Scaramucci and Novogratz’ forecasts have often served as catalysts for market movements, though cryptocurrencies remain highly speculative and sensitive to external shocks. In the short term, this forecast could support a technical rebound in Bitcoin, with a potential 5 to 10% gain if confirmed by other institutional actors or significant ETF flows. Such a move could also trigger a positive contagion effect on altcoins, particularly those tied to infrastructure like Ethereum (ETH) or Solana (SOL), as well as gaming tokens like Chiliz (CHZ) and Axie Infinity (AXS), by improving risk appetite. In the long term, if the forecast materializes, it could strengthen the case for increased Bitcoin adoption by companies in the Mag8 (the eight largest global tech firms), with 25% already holding BTC according to MicroStrategy data. What to Watch The key date of July 2026 , to assess whether the forecast comes to fruition. Net Bitcoin ETF flows, which could confirm or refute the expected upward momentum. Statements from U.S. regulators, particularly the SEC and CFTC, whose decisions could weigh on investor confidence. The evolution of market sentiment, currently marked by excessive caution according to Scaramucci and Novogratz. Ongoing debates in the U.S. on crypto regulations, which could introduce additional uncertainties.