Galaxy CEO Novogratz Sees Imminent Bitcoin Breakout To $130,000 🚀
Mike Novogratz, CEO of Galaxy Digital, anticipates Bitcoin's price reaching $130,000, following a key breakout above $107,000. Novogratz discussed on "Galaxy Brains" how Bitcoin's current momentum has neutralized earlier market risks, driven by high ETF demand and interest from institutional buyers like MicroStrategy.
He pointed out that Bitcoin has rebounded faster than other assets amid volatile times, displaying attributes of a maturing macro asset. As under-positioned institutions scramble to enter the market, a decisive breach at $107,000 could trigger a rapid price discovery phase.
Novogratz's analysis is supported by technical patterns and structural bids that suggest Bitcoin's imminent price advancement. The cryptocurrency is trading close to $104,054, with technical narratives indicating a potential swift rise towards the predicted range of $120,000 - $130,000.
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