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

Jake Simmons
Jake Simmons
1 month ago
3 mins read
Bitcoin Price News Galaxy Mike Novogratz

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A week of steady closes above the psychologically potent $100,000 mark has sharpened Mike Novogratz’s conviction that Bitcoin is once again approaching escape velocity. Speaking on the latest “Galaxy Brains” podcast, the Galaxy Digital founder traced the market’s arc back to its late-March nadir—“Bitcoin went down and kissed right where it broke out: $74,000”—and 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 cryptocurrency’s 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. MicroStrategy’s at-the-market issuance has been “buying at a record pace,” and fresh entrants—including the “SoftBank-Tether version of MicroStrategy,” a newly announced “David Bailey version,” and an expanding Japanese version Metaplanet—are repeating that playbook.

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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, we’re going to be $120,000 – $130,000,” he predicted. The level he emphasised—$107,000—marks both the post-ETF closing high and the neckline of March’s 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, Bitcoin’s 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 trader”—a role that, in his view, will eventually see its market capitalisation surpass gold’s.

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Even so, he acknowledged the feedback loop that can magnify volatility. Short-term froth—“real sellers … that bought at forty decided they wanted to sell at a hundred,” he said—dragged the asset down to $74,000 after January’s 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 range—an 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 … you’re going to be asking, ‘how did that happen?’”

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

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BTC remains above the 0.786 Fib, 1-day chart | Source: BTCUSDT on TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

Read more

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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