‘Bitcoin in Consolidation’ – Galaxy’s Mike Novogratz Reportedly Sees Solana, Ethereum Taking Spotlight For Now
Synopsis
Novogratz stated that Bitcoin’s price is likely to see a renewed rally towards the end of the year.
Galaxy Digital (GLXY) CEO Mike Novogratz reportedly said Bitcoin (BTC) is consolidating as other cryptocurrency ecosystems attract investor attention, but predicted a renewed rally toward the end of 2025.
“Bitcoin’s in consolidation right now, partly because you’re seeing a lot of these Treasury companies in other coins take their shot,” Novogratz said in an interview with CNBC. He noted that Ethereum (ETH) and Solana (SOL)-linked firms are drawing capital, including a $1.65 billion financing for a Solana ecosystem company completed by Forward Industries (FORD) earlier this week.
“That’s bringing energy into the crypto space. It’s bringing money into the crypto space. And Bitcoin is kind of going sideways a little bit. I think while these other ecosystems are having their moment, I think probably we have another big surge up towards the end of the year in Bitcoin, as the Fed starts the cutting cycle,” he said.
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