According to external media reports, Mike Novogratz, founder and Chief Executive Officer of Galaxy Digital, argued that the round of Bitcoin had suddenly fallen and that the core cause was not a single space, but a clear weakening of confidence around Strategy. In his view, that sentiment had been transmitted from stock and related trading structures to the entire Bitcoin market.

Strategy-related pressure rises Wen.

Novogratz stated that the most direct point of pressure in the current market came from Strategy. Market sentiment worsened as the company ' s books expanded, and traders began to reassess their holding structures and their financial resilience.

He mentioned that, against the backdrop of declining overall interest in encrypted markets, investor scepticism about market structures was increasing, and that part of the funds was also being channelled to other asset classes. This makes the previously weak encryption market more vulnerable to centralization.

Scaramucci mentioned in the programme that the market was digesting some $14 billion in unrealized losses in Strategy. According to him, once traders judge the existence of a vulnerability point for a high-sensitivity subject, they tend to concentrate on testing its pressure capacity, thereby magnifying price fluctuations.

Macro factors synchronized pressure

In addition to the risks associated with Strategy, Novogratz has also targeted macro-environment changes, particularly the Fed’s position of hawk bias and strong expectations of the dollar. In his view, a strong United States dollar was usually not conducive to the performance of bitcoin, which had also altered part of the market ' s previous expectations of risky assets.

He mentioned that the policy level was clearer about the strong dollar than before, which allowed the market to start re-pricing. For encrypted assets that lack incremental financial support, a stronger dollar would further reduce risk preferences.

There's a short-line focus around $60,000.

At the price level, the Novogratz region considers 60,000 to 59,000 United States dollars as a key support. In his view, the viability of the zone would have a direct impact on the market ' s subsequent direction.

  • If the region is stable, market sentiment may be eased.
  • If you fail, the price range could go further down to the vicinity of $45,000.
  • A short-term return of $62,000 above indicates that the support is temporarily effective

Novogratz did not give a clear unilateral judgement on the subsequent trend, but merely indicated that the current situation was more complex than ever before. He argued that the market rate would continue to weaken if Bitcoin fell quickly to $55,000; if it was re-established at $62,000, it suggested that the wheel might have been released in stages.