Galaxy Digital CEO: BTC may fall back to around $50,000 before reaching a new high

Michael Novogratz, founder and CEO of Galaxy Digital, said that Bitcoin may experience some adjustments before rebounding to a record high and "substantial increase" at the end of the year. He said: "If we see some adjustments and consolidation, I won't be surprised. If there is a pullback, it may fall back to around $50,000 and then reach a new high."

Novogratz also predicted that a spot Ethereum ETF will be approved by the SEC at some point this year. Galaxy is one of the applicants seeking to provide an Ethereum ETF in collaboration with Invesco.

When asked about the timetable for Galaxy's listing in the United States, he said that the United States has had an "unfriendly regime" for the past four years and he does not believe that this situation will change after the election.