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Galaxy Digital CEO Mike Novogratz says Bitcoin reaching $100,000 is ‘just the start’

Galaxy's CEO also warned that the market is currently heavy with leverage, with a correction until $80,000 being possible after the $100,000 is surpassed.

CryptoSlate

Nov 22

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Excitement is building in the crypto community as Galaxy Digital CEO Mike Novogratz asserts that Bitcoin's climb to $100,000 is just the beginning. However, he warns that the current market's heavy leverage could lead to a potential correction down to $80,000 after hitting this milestone. In another significant development, former President Donald Trump is set to establish a Crypto Advisory Council to create a Strategic Bitcoin Reserve, which could influence U.S. crypto legislation and attract major players in the industry. Additionally, FTX is on track to unveil its repayment plan in January 2025, offering hope for those impacted by its previous collapse. Dive into these key stories shaping the future of cryptocurrency!

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The global crypto market cap is $3.28 trillion, with a 24-hour volume of $219.39 billion. The price of Bitcoin is $98,501.40, and BTC market dominance is 59.4%. The price of Ethereum is $3,301.18, and ETH market dominance is 12.1%. The best-performing sector is Gambling, which gained 12%. The Crypto Fear & Greed Index is currently Extreme Greed (94).