According to Odaily, Michael Novogratz, the founder of digital asset financial services company Galaxy Digital Holdings Ltd., has predicted that Bitcoin may continue to trade within a relatively narrow range of $55,000 to $75,000 in the current quarter. He also noted that the adoption of cryptocurrency in traditional finance is ongoing.
Novogratz believes that the market may maintain a similar situation in the current and next quarter until two potential turning points occur: the start of interest rate cuts by the Federal Reserve, which usually signifies an economic slowdown, or the end of elections, which could bring some clarity to the regulatory environment for cryptocurrencies.