Galaxy Digital CEO Novogratz Skeptical of Bitcoin $100,000 Target for 2026

Michael Novogratz, the CEO of Galaxy Digital, has tempered expectations regarding Bitcoin's short-to-medium term price action. During the company's first-quarter earnings call, the seasoned investor stated that he does not believe Bitcoin (BTC-USD) will cross the $100,000 mark within 2026. Novogratz provided context on the asset's recent performance, noting a period of instability where Bitcoin experienced a severe sell-off that drove prices down to the $60,000 level. Despite this dip, the cryptocurrency managed a recovery, bouncing back to reach $80,000. This cautious stance from one of the industry's most visible figures suggests that while the long-term thesis for digital assets may remain, the immediate momentum required for a six-figure breakout is currently absent. The market continues to grapple with volatility as it seeks a definitive direction. For traders, Novogratz's commentary highlights the resistance levels currently facing the asset. The gap between the current $80,000 recovery and the $100,000 psychological barrier remains a significant hurdle in the current market environment.