Mike Novogratz Remains Bullish on Crypto Amid Market Volatility

Crypto markets continue to react to shifting macro signals, yet some long-term investors remain confident about where digital assets are headed. One of the most vocal voices in that camp says recent volatility has not changed the broader setup.

Good to Know

• Mike Novogratz remains bullish on crypto despite macro uncertainty
• He points to ETF flows and Wall Street participation as key drivers
• Bitcoin remains in a consolidation phase below key price levels

Billionaire investor Mike Novogratz says confidence in cryptocurrencies remains intact, even as tariffs, geopolitics, and broader market uncertainty pressure prices in the near term. Novogratz leads Galaxy Digital and has remained closely tied to institutional and retail trends shaping the crypto market.

Speaking with SkyBridge Capital founder Anthony Scaramucci, Novogratz said recent headlines created short-term risk and weakness across digital assets. He added that those conditions have not changed his broader outlook.

“Crypto has been trading better this year. It’s broad-based ETF participation, i.e. retail. We know Wall Street’s moving into crypto. So I’m bullish on crypto,” Novogratz said.

Institutional and Retail Signals Align

Novogratz pointed to exchange traded fund activity as a key signal supporting his view. Spot crypto ETFs have expanded access for retail investors while also serving as an entry point for large financial institutions.

Wall Street involvement, according to Novogratz, continues to deepen across custody, trading, and investment products. That participation adds structural support even when short-term price action remains uneven.

Bitcoin Watches Key Technical Levels

While optimistic, Novogratz said Bitcoin still needs to clear important resistance before stronger momentum returns. He described the current market as a consolidation phase rather than a breakout environment.

“Again, I caution that I won’t get Wolf of Wall Street bullish where I’m pounding my chest until we take out $100,000, $104,000 and stay there for a week or two,” Novogratz said.

He added that Bitcoin previously lost that level, making it technically important for confirmation.

“That was a big level that broke. So technically, Bitcoin still is in this consolidation phase and we might be there for the next few months or longer. So I have a core long position for the firm. Full disclosure, I will get both fists pumping until we take out that $100,000, $104,000,” Novogratz said.

Despite near-term caution, he confirmed Galaxy Digital continues to maintain long exposure to Bitcoin while monitoring market structure and macro developments.

Bitcoin sits at $89,806 at time of writing according to CoinMarketCap data.