Core Viewpoint - Galaxy Digital Inc CEO Mike Novogratz believes Bitcoin could exceed $125,000 if President Trump takes action on the Federal Reserve and a pending market structure bill is enacted [1][2]. Group 1: Price Predictions - Novogratz suggests a potential trading range for Bitcoin between $100,000 and $125,000, with a breakout possible if fiscal or regulatory catalysts align [2][3]. - He indicates that $100,000 should serve as a lower boundary for Bitcoin, suggesting the asset is in a broad accumulation phase rather than facing a deeper correction [3][4]. Group 2: Technical Analysis - Bitcoin is currently testing support around $108,000, which coincides with the 200-day exponential moving average and a rising trendline from March [5][6]. - A close below the $108,000 level could confirm a technical breakdown, exposing support zones near $104,000 and potentially a deeper structural floor at $92,000 [6]. Group 3: Market Sentiment - Recent data shows a modest net inflow of $25.6 million into Bitcoin, indicating short-term relief, but the overall trend since mid-year shows heavier outflows, suggesting institutional caution [8]. - Persistent outflows historically hint at accumulation, but the current cycle indicates more supply is returning to exchanges than being moved into cold storage [8].
Galaxy CEO Mike Novogratz Says Bitcoin Is One Trump Move Away From Exploding Past $125,000