Galaxy Digital CEO Mike Novogratz recently pointed out that the focus of the crypto market is gradually shifting towards alts (Altcoins), causing the price of Bitcoin to continue to move sideways. However, as the Federal Reserve (FED) enters a rate-cutting cycle, and companies actively position themselves in assets like Ethereum and Solana, Bitcoin may see a new wave of strong pump by the end of the year.
Novogratz: Institutional money is flowing into altcoins, temporarily suppressing Bitcoin momentum.
Novogratz stated on CNBC's Squawk Box that the current sideways price action of Bitcoin is mainly influenced by the shift of corporate funds, which has diverted the market's attention from Bitcoin:
Many companies have started to take action on altcoin reserve strategies, resulting in Bitcoin prices performing relatively stable in the short term.
According to CoinGecko data, the price of Bitcoin has indeed been hovering between $110,000 and $115,000 over the past week.
Galaxy leads the DAT financing, stimulating market liquidity.
Novogratz also promoted his own investment in the Nasdaq-listed company Forward Industries, which recently announced raising $1.65 billion in cash and stablecoins, planning to drive a crypto reserve strategy centered around Solana.
( Forward Industries raises $1.65 billion! Galaxy, Jump, and Multicoin join forces to enter the SOL reserve battlefield )
He emphasized that the financing of digital asset financial companies (DAT), driven by institutions such as Galaxy Digital, Jump Crypto, and Multicoin Capital, has injected vitality into the industry:
These financial layouts not only attract capital inflows but also bring energy to the entire ecosystem, stimulating the development of the crypto community.
He added that the Ethereum community continues to develop decentralized finance and staking economy, while Solana attracts enterprises with its speed and low-cost advantages. Although these ecosystems compete with each other, Novogratz believes that this “healthy competition” is an important driver of industry maturity.
The interest rate cut and regulatory benefits provide opportunities for Bitcoin to rise.
Novogratz expects that the next wave of Bitcoin pump will be closely related to macro and regulatory factors. Specifically including:
U.S. Federal Reserve interest rate cut cycle: As economic policies shift, market liquidity increases, and funds are expected to flow back into Bitcoin.
Modernization of Regulation: SEC Chairman Paul Atkins stated that he will promote updates to regulatory rules to assist in bringing market assets on-chain. Nasdaq has also submitted an application to the SEC seeking to tokenize stocks and ETFs, further expanding application scenarios.
(Nasdaq applies to the SEC to trade “tokenized stocks”: settlement remains T+1, not open for 24/7 trading)
Novogratz believes that these policies and market innovations will create structural benefits for Bitcoin, attracting investors' attention once again.
Narrative grounding: The crypto market moves towards completeness and a hundred flowers bloom.
Novogratz reflects on the development of the crypto space, pointing out that Bitcoin was initially positioned as “digital gold,” while stablecoins served as tools for cross-border payments. However, what has always hindered the industry's progress is the lower security and credibility of blockchain and the lack of a clear regulatory framework.
Today, we have both technological breakthroughs and regulatory support, which allows the market to move from the storytelling phase to the actual application development.
He emphasized that Ethereum and Solana each form independent communities and use cases, and there will be no situation of “one dominating” as in traditional finance. In the future, with more funds flowing in, the development of the crypto market will no longer just be a narrative, but rather a complete context and a flourishing ecosystem.
This article discusses the shift of Bitcoin funds towards altcoins! Galaxy Digital CEO: Interest rate cuts will drive another wave of pump before the end of the year, originally appeared on Chain News ABMedia.
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