Galaxy Digital CEO: BTC may pull back to around $50,000 before hitting new highs

Michael Novogratz, founder and CEO of Galaxy Digital, said Bitcoin could see some adjustments before it rallies to record levels and ends the year "significantly higher. He said, "I wouldn't be surprised to see some correction and consolidation, and if it pulls back, it will probably pull back to around $50,000 before hitting new highs." Novogratz also expects the spot ethereum ETF to be approved by the SEC sometime this year, and Galaxy, in partnership with Invesco, is one of the applicants seeking to offer an ethereum ETF. When asked about Galaxy's timeline for a U.S. launch, he said the U.S. has had an "unfriendly regime" for the past four years, and he doesn't see that changing after the election.