Anthony Scaramucci says Bitcoin can still surge to $170,000

Bitcoin was trading around $64,740 as Scaramucci reiterated his view that the cryptocurrency still has “room to run,” targeting $170,000 by the end of the current cycle and linking the upside to spot Bitcoin ETFs and the April 2024 halving [1][3].

ETF inflows and the halving boost sentiment

Scaramucci highlighted that spot Bitcoin exchange‑traded funds have attracted more than $10 billion in inflows during the first quarter, a pace he compared to the gold ETF’s $10 billion accumulation over a full year. He argues that this rapid capital influx, combined with the upcoming halving that will cut block rewards from 6.25 to 3.125 BTC, creates a supply‑side shock that could propel prices upward. The halving, set for block 740,000 in April 2024, will halve new Bitcoin issuance, a factor traditionally seen as bullish if demand holds steady.

Why the $170,000 target matters

Scaramucci’s $170,000 projection assumes Bitcoin maintains its current price level of roughly $45,000 at the time of the halving—a scenario he outlined in a prior interview at the Reuters Global Markets Forum. He believes the market is still in a price‑discovery phase and that the halving is not yet fully priced in. If Bitcoin holds near $45,000 through the event, a quadrupling to $170,000 could occur within 18 months, according to his calculations. This view contrasts with the broader market sentiment that the halving may already be reflected in price.

Market context

Bitcoin’s price of $64,740 sits well above its 2023 lows but below its all‑time high of $68,999 reached in November 2021. The current level places it within a range that has historically acted as support for further upside moves, especially when reinforced by strong institutional inflows. Scaramucci’s emphasis on ETF capital suggests that continued fund‑level buying could be a decisive factor in breaking past recent resistance.

What to watch

• April 2024 halving – monitor block 740,000 for the reward cut from 6.25 to 3.125 BTC.
• ETF inflow trends – any deviation from the $10 bn Q1 benchmark could signal shifting demand.
• Price at $70,000 – a sustained breach could validate the path toward the $170,000 target.

Scaramucci’s bullish outlook underscores the interplay between institutional ETF flows and the halving’s supply shock. Whether Bitcoin can sustain its current level and translate inflows into higher prices remains the key question for the market.