Galaxy CEO Novogratz Sees Imminent Bitcoin Breakout To $130,000
Bitcoin has maintained steady closes above $100,000, reinforcing Mike Novogratz's belief in its upward momentum. The cryptocurrency rebounded from a low of $74,000 in late March, indicating a structural bid that supports trend changes. ETF demand is at all-time highs, with significant absorption from retail and corporate treasuries. Novogratz predicts that breaching the $107,000 mark could lead to prices between $120,000 and $130,000. This level is significant as it represents the post-ETF closing high and the neckline of March's corrective range. Bitcoin's correlation with traditional assets remains flexible, sometimes trading like gold or outperforming equities. Despite potential volatility from short-term sellers, the supply-absorption dynamic has stabilized prices. The market awaits a catalyst to propel Bitcoin further, with current trading at $104,054.
