Novogratz Sees Bitcoin Reaching $100K by End of 2026

Galaxy Digital CEO Mike Novogratz thinks Bitcoin's drop to $60,000 may be the cycle low. He believes that despite a possible short-term pullback, the cryptocurrency could finish 2026 near $100,000.

In an interview with Anthony Scaramucci on All Things Markets, Novogratz said that he thinks the $60 print is the low of the cycle. He pointed out that Bitcoin has tested the $80,000 level a couple of times and that holding above it on a weekly close is crucial. As of the conversation's recording, Bitcoin was trading around $84,000.

Novogratz thinks that another short-term pullback could happen before Bitcoin advances again. However, he doesn't rule out the possibility of it revisiting the upper-$70,000 range before making a push toward six figures by the end of 2026.

The Galaxy Digital boss also emphasized that Bitcoin remains different from the broader cryptocurrency market and drives much of the energy within it. He believes that forced or motivated selling may already have taken place in the market.