Bitcoin Eyes Recovery as Galaxy Digital’s Mike Novogratz Hints at New Rally
Mike Novogratz, a longtime crypto advocate and billionaire investor, believes Bitcoin could be on the verge of a breakout.
In a recent post on X, the Galaxy Digital founder suggested that Bitcoin feels poised for an upward move, despite trading alongside tech stocks for much of the year.
His comments come as Bitcoin bounces back from a midweek dip, climbing over 5% in the last 24 hours to around $83,800, according to CoinGecko. This recovery mirrors a broader rally in U.S. equities, following what has been a volatile stretch for both markets. Just days earlier, Bitcoin had dropped to a multi-month low near $74,500.
Despite its tight correlation with the stock market, Bitcoin has shown flashes of independence, especially during recent downturns. Analysts like John Bollinger have also hinted that the cryptocurrency might be forming a bottom, raising hopes for a bullish reversal.
Year-to-date, BTC is still down roughly 10%, weighed down by global economic pressures—including rising tariffs. But Novogratz remains confident in Bitcoin’s staying power, reiterating his view of it as “digital gold.”
Interestingly, he also acknowledged having growing agreement with Bitcoin critic Peter Schiff, particularly on issues related to trade imbalances. However, Novogratz challenged Schiff to finally recognize Bitcoin’s evolution into a legitimate macro asset—something that, he said, few expected it to achieve.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
