A week of steady closes above the psychologically potent $100,000 mark has sharpened Mike Novogratzs conviction that Bitcoin is once again approaching escape velocity. Speaking on the latest Galaxy Brains podcast, the Galaxy Digital founder traced the markets arc back to its late-March nadirBitcoin went down and kissed right where it broke out: $74,000and argued that the subsequent recovery has rebuilt the structural bid that drives decisive trend inflections. Bitcoin stops going down, it finds its buyers, and then it starts regaining momentum; and as soon as it gets momentum, momentum begets momentum, he told host Alex Thorn. The Key For A New Bitcoin All-Time High That regained momentum, Novogratz contends, has already neutralised the post-tariff risk-off that rattled global assets. Gold roofed while Bitcoin sold off, yet the cryptocurrencys rebound has outpaced every major risk proxy. ETF demand underscores the shift: Net cumulative flows are at all-time highs, noted Galaxy trader Bimnet Abbi in the same episode, adding that retail and corporate treasuries continue to absorb supply. MicroStrategys at-the-market issuance has been buying at a record pace, and fresh entrantsincluding the SoftBank-Tether version of MicroStrategy, a newly announced David Bailey version, and an expanding Japanese version Metaplanetare repeating that playbook. Related Reading: Road To $320,000: Bitcoin Enters Trend Continuation, But $109,400 Must Hold Novogratz sees these structural bids compressing the window between resistance and fresh price discovery. It feels right now like if we take out $107,000, were going to be $120,000 – $130,000, he predicted. The level he emphasised$107,000marks both the post-ETF closing high and the neckline of Marchs corrective range; a decisive breach would, in his framing, unleash a self-reinforcing scramble for exposure among under-positioned institutions. Macro inputs appear to support that thesis. Equities have rallied almost 25% from the lows, Abbi observed, while retail investors who bought the dip are now sitting in a ton of profits. Against that backdrop, Bitcoins correlation to traditional risk has remained elastic, at times trading like gold when monetary hedges caught a bid, and at times outperforming high-beta equities during growth rotations. For Novogratz, that chameleon-like behaviour is evidence that Bitcoin is maturing into a macro asset that is going to be on every desk of every macro tradera role that, in his view, will eventually see its market capitalisation surpass golds. Related Reading: Bitcoin Will Hit $1 Million By 2028 As Capital Controls Kick In: Top Expert Even so, he acknowledged the feedback loop that can magnify volatility. Short-term frothreal sellers that bought at forty decided they wanted to sell at a hundred, he saiddragged the asset down to $74,000 after Januarys euphoric peak, and further tariff-driven shocks could repeat the pattern. Yet the supply-absorption dynamic, buttressed by ETF creations and corporate treasuries, has thus far shortened each corrective phase, allowing spot prices to stabilise in six-figure territory within six weeks of the March trough. The technical and structural narratives therefore converge, Novogratz argues, at the $107,000 pivot. Should that barrier yield, he expects a swift repricing into the $120,000 to $130,000 rangean advance of roughly 20% that would reset the discussion around how quickly Bitcoin can challenge its inflation-adjusted gold equivalent. Until then, the market waits on a single catalytic print; as the Galaxy CEO put it, as soon as we get a little bit of mojo youre going to be asking, how did that happen? At press time, BTC traded at $104,054. Featured image from YouTube, chart from TradingView.com

Galaxy CEO Novogratz Sees Imminent Bitcoin Breakout To $130,000

A week of steady closes above the psychologically potent $100,000 mark has sharpened Mike Novogratzs conviction that Bitcoin is once again approaching escape velocity. Speaking on the latest Galaxy Brains podcast, the Galaxy Digital founder traced the markets arc back to its late-March nadirBitcoin went down and kissed right where it broke out: $74,000and argued that the subsequent recovery has rebuilt the structural bid that drives decisive trend inflections. Bitcoin stops going down, it finds its buyers, and then it starts regaining momentum; and as soon as it gets momentum, momentum begets momentum, he told host Alex Thorn.

The Key For A New Bitcoin All-Time High

That regained momentum, Novogratz contends, has already neutralised the post-tariff risk-off that rattled global assets. Gold roofed while Bitcoin sold off, yet the cryptocurrencys rebound has outpaced every major risk proxy. ETF demand underscores the shift: Net cumulative flows are at all-time highs, noted Galaxy trader Bimnet Abbi in the same episode, adding that retail and corporate treasuries continue to absorb supply. MicroStrategys at-the-market issuance has been buying at a record pace, and fresh entrantsincluding the SoftBank-Tether version of MicroStrategy, a newly announced David Bailey version, and an expanding Japanese version Metaplanetare repeating that playbook.

Novogratz sees these structural bids compressing the window between resistance and fresh price discovery. It feels right now like if we take out $107,000, were going to be $120,000 $130,000, he predicted. The level he emphasised$107,000marks both the post-ETF closing high and the neckline of Marchs corrective range; a decisive breach would, in his framing, unleash a self-reinforcing scramble for exposure among under-positioned institutions.

Macro inputs appear to support that thesis. Equities have rallied almost 25% from the lows, Abbi observed, while retail investors who bought the dip are now sitting in a ton of profits. Against that backdrop, Bitcoins correlation to traditional risk has remained elastic, at times trading like gold when monetary hedges caught a bid, and at times outperforming high-beta equities during growth rotations. For Novogratz, that chameleon-like behaviour is evidence that Bitcoin is maturing into a macro asset that is going to be on every desk of every macro tradera role that, in his view, will eventually see its market capitalisation surpass golds.

Even so, he acknowledged the feedback loop that can magnify volatility. Short-term frothreal sellers that bought at forty decided they wanted to sell at a hundred, he saiddragged the asset down to $74,000 after Januarys euphoric peak, and further tariff-driven shocks could repeat the pattern. Yet the supply-absorption dynamic, buttressed by ETF creations and corporate treasuries, has thus far shortened each corrective phase, allowing spot prices to stabilise in six-figure territory within six weeks of the March trough.

The technical and structural narratives therefore converge, Novogratz argues, at the $107,000 pivot. Should that barrier yield, he expects a swift repricing into the $120,000 to $130,000 rangean advance of roughly 20% that would reset the discussion around how quickly Bitcoin can challenge its inflation-adjusted gold equivalent. Until then, the market waits on a single catalytic print; as the Galaxy CEO put it, as soon as we get a little bit of mojo youre going to be asking, how did that happen?

At press time, BTC traded at $104,054.