Mike Novogratz, CEO of Galaxy Digital, shared his outlook for Bitcoin’s trajectory, suggesting the leading cryptocurrency could finish 2026 close to the $100,000 mark. Speaking with Anthony Scaramucci during the All Things Markets podcast, Novogratz noted that Bitcoin’s recent correction may have already bottomed out, providing an important perspective on the asset’s current position within a broader cycle.
Price range and key support levels
During the conversation, Novogratz pointed to the $60,000 level as a likely cycle low for Bitcoin. He explained that Bitcoin’s drop toward this area signaled what he believes could be the trough for the current downturn. His assessment of the market suggested that the price may not fall significantly below this point.
“I think the 60 print is the low of the cycle,” Novogratz said, referring to Bitcoin’s movement near this support zone. He also highlighted the significance of the $80,000 level as a price point to watch on a weekly close. Maintaining support above this threshold, according to Novogratz, will be critical for Bitcoin’s short-term direction.
I think the 60 print is the low of the cycle. I think right now 80, holding 80 on a weekly close, is important. And, you know, we’ve tested it a couple times.
At the time of his remarks, Bitcoin was trading around $84,000. Novogratz did not dismiss the possibility of a temporary decline into the upper $70,000 range, but maintained that the $80,000 to $100,000 zone now frames his medium-term expectations.
| Price Level | Significance |
|---|---|
| $60,000 | Identified as likely cycle low |
| $80,000 | Key weekly support level |
| $84,000 | Spot price during interview |
| $100,000 | Potential year-end 2026 target |
Outlook for 2026 and market dynamics
Looking further ahead, Novogratz stated that Bitcoin could end 2026 approaching the six-figure milestone. Although short-term volatility remains possible, he expressed confidence that any dips into the $70,000s would likely be short-lived if long-term support holds.
“Maybe it goes to 78 or something, but it’s now, in my mind, an 80-100 range. And I would not be surprised if we end the year close to 100, having gone through it,” Novogratz remarked.
Galaxy Digital, which Novogratz leads, is a financial services firm focused on digital assets, cryptocurrency trading, and investment management.
Mini dictionary: Galaxy Digital, founded by Mike Novogratz, operates as a diversified financial services platform specializing in digital assets and blockchain technology. It provides trading, asset management, and advisory services within the cryptocurrency sector.
Bitcoin’s unique position in crypto
Novogratz emphasized the distinct role of Bitcoin within the broader crypto market. He noted that many of the major sell-offs have likely passed, reducing immediate downward pressure on prices. In his view, Bitcoin’s market leadership persists, driving momentum across the digital asset landscape.
Again, Bitcoin is different than the rest of crypto, but it actually drives a lot of the energy.
Novogratz observed that motivated sellers appeared to have largely exited, which could help stabilize prices moving forward. He concluded that Bitcoin’s technical levels and psychological milestones would continue shaping expectations for both retail and institutional investors.
