Galaxy Digital founder: Bitcoin unlikely to fall below $50,000, SEC will eventually approve spot Ethereum ETF
TechFlow news, according to The Block, billionaire Mike Novogratz, founder and CEO of Galaxy Digital, said that unless major events such as negative Bitcoin ETF spot liquidity occur, Bitcoin is unlikely to fall below $50,000.
Novogratz said that Bitcoin prices continue to rise mainly due to continued inflows into U.S.-approved spot Bitcoin exchange-traded funds.
He believes that Bitcoin is currently in price discovery mode and may eventually reach $100,000. At the same time, he believes that spot Bitcoin ETFs are unlikely to hold more than 20% of the total number of Bitcoins.
Novogratz said the U.S. Securities and Exchange Commission (SEC) will eventually approve a spot Ethereum ETF.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump and Wall Street: How long will the love affair last?
Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.
Spot Bitcoin ETFs see record $2.42B inflows as Chinese ETFs suffer historic $2B outflows
Share link:In this post: Spot Bitcoin Exchange Traded Funds saw almost $2.5 billion in investments in a single week. However, the Chinese ETFs have seen a series of outflows, amounting to $2 billion worth of withdrawals. The Bitcoin rally helped elevate the spot ETF market, especially with Bitcoin close to reaching $100000.
The clash of Bitcoin and benchmark stock indexes
Share link:In this post: The S&P 500 is up 25% this year, with financial and cyclical stocks leading, boosted by optimism around a Trump administration and steady economic growth. Bitcoin has surged 40% this month, nearing $100,000, driven by aggressive trading, retail investor enthusiasm, and headlines hinting at government support. MicroStrategy’s stock hit a $100 billion market cap, tripling its Bitcoin holdings’ value, but its wild 32% drop from intraday highs shows cracks in the frenzy.
Ethereum price rises with market recovery
Trending news
MoreCrypto prices
More
