Mike Novogratz: The Activity of Sellers is Weakening
Bitcoin was able to stay above $19,000 yesterday despite strong sell-offs in the stock market. Today, the asset is trading at about $19,500.
According to Galaxy Digital CEO Mike Novogratz, BTC held steady in September due to the fact that the majority of investors left the crypto market, who react negatively to the aggravation of volatility. They sold all their reserves and left the crypto sphere, as a result, the situation stabilized.
Over the past few weeks, Bitcoin has been trading in a narrow range of $18,000 to $20,000. According to Novogratz, there is no such turbulence in the cryptosphere that is observed in the stock markets.
The billionaire does not rule out a resumption of the BTC rally after the Fed stops tightening monetary policy.
