Bitcoin’s latest pullback is less about weakness and more about maturity, according to Anthony Pompliano. In an interview on CNBC’s Squawk Box, the Professional Capital Management founder said the recent correction reflects how the market has evolved as institutional money continues to flow in.
“Bitcoin is a very volatile asset. In bull markets, usually there are drawbacks of around 30%. These haven’t been 30%, these have been more like 10–15% drawdowns. And so what I think we’re watching is a market that’s maturing,” Pompliano explained. He added that the arrival of institutions and ETFs has led to “muted volatility,” a shift that makes Bitcoin more acceptable to large investors.
This, he said, is why investors should temper expectations. Anyone hoping for $400,000 or $500,000 this cycle is unlikely to see it, but at the same time, fears of massive 85–90% declines are also far less realistic. He compared the trend to gold, noting Bitcoin is moving from a contrarian bet to a consensus asset.
Pompliano also pointed to a shift in who owns Bitcoin. Retail traders once dominated, reacting to fear and greed. Now institutions, public companies, and ETFs are stronger holders and less likely to dump assets in downturns. “I think that this is all kind of natural and a good sign for Bitcoin in the long run,” he said.
Asked about Bitcoin’s range, Pompliano quipped, “Zero and infinity.” He clarified that while he expects Bitcoin to eventually hit $1 million, it is unlikely in this cycle. At around $110,000, he believes the asset looks oversold and could bounce back in September or October, historically strong months for post-halving cycles.
He dismissed the idea of shifting heavily into Ethereum or other blockchain projects, calling the “blockchain not Bitcoin” mindset outdated. Bitcoin, he stressed, remains the sector’s undisputed leader.
As of now, Bitcoin trades at $113,000, with investors eyeing September for signs of renewed momentum.
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