Mike Novogratz’s Bold Call: Galaxy Digital Founder Sees Bitcoin Bottom Imminent

Another crypto winter, another bold prediction from a billionaire believer. This time, it's Galaxy Digital's Mike Novogratz stepping into the spotlight with a declaration that's either visionary or wishful thinking.

The Contrarian's Conviction

While mainstream finance scribbles obituaries for digital assets, Novogratz is scanning the charts for a different signal. He's not just holding—he's calling the turn. The logic? A brutal sell-off has flushed out the weak hands, leaving a foundation that's grim but solid. It's the classic 'blood in the streets' play, repackaged for the blockchain age.

Reading the Market's Tea Leaves

The indicators he's watching aren't found in traditional prospectuses. Look at miner capitulation, exchange outflows, and the stubborn hodling of long-term wallets. These on-chain metrics whisper what price action screams: exhaustion. The speculative froth is gone, replaced by a weary, grinding consolidation. It's the quiet before the next storm—or so the theory goes.

A Gamble on the Digital Future

This isn't a call for the faint of heart. Betting on a bottom is a professional's game, a high-stakes wager that the core thesis of decentralized digital scarcity remains intact. It assumes the infrastructure built during the boom—the ETFs, the custody solutions, the regulatory grudging acceptance—forms a launchpad, not a gravestone.

The Final Tally

Novogratz's track record is a mix of prescient wins and painfully early calls. His latest prediction hangs in the balance, a test of nerve against the market's cold, algorithmic indifference. If he's right, it's genius. If he's wrong, it's just another finance guru talking his book—after all, optimism is a lot cheaper than buying the dip.

John Deaton accuses the banking system of suppressing BTC price

A pro-crypto United States Senate candidate, John Deaton, addressed Mike Novogratz’s comments about the current state of cryptocurrency markets in a post on X yesterday. Deaton stated that Novogratz is right about his claims, writing that “the math isn’t mathing” regarding Bitcoin’s current price. He went on to state that when gold is hitting all-time highs, and Bitcoin is crashing to new lows, despite the same macro tailwinds and a pro-crypto administration in office, it’s important to turn your eyes to the paper markets. He believes that the same bank playbook is being run on BTC that was used to suppress silver prices in the past. This was done through heavy shorting via futures that suppressed price action despite high physical demand for silver at the time.

Deaton accused the traditional finance players, like the banking system, or what he calls “the old guard,” of using paper contracts to suppress the price of Bitcoin and other cryptocurrencies to shut down the Digital Gold narrative. He finished his recent X post by writing that “the banks are following their political playbook in Washington to slow down or kill crypto legislation while at the same time following their manipulation playbook on the asset itself.” This dynamic is framed by Deaton as a clash between the old guard and what he calls “the new guard,” consisting of crypto players like Coinbase and it’s CEO Brian Armstrong.

Michael Burry’s comments on BTC crash

Legendary investor Michael Burry warned that Bitcoin is in a “death spiral” and that crypto markets will only continue to worsen as various events trigger further collapse.  For starters, the current crash could lead to a catastrophic sell-off in gold and silver as companies holding BTC try to compensate for losses. This will also push certain BTC miners towards bankruptcy, in his opinion, leading to a further loss in value for the asset.

Unlike Novogratz, Burry does not believe there is a bottom for Bitcoin, as there is no organic use case reason that will be able to slow or stop the death spiral it is currently in. He believes the narrative of Bitcoin as digital gold has collapsed, proving that its price action is based on pure speculation, which leaves it incredibly vulnerable to negative market sentiment.

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