Key Takeaways
- • Citi's view, as framed by the CNBC headline, is that crypto is bouncing back and that Galaxy Digital could participate in the recovery, though the original article could not be retrieved in full.
- • Galaxy Digital reported a wider-than-expected loss of almost $500 million during the crypto market's fourth-quarter crash, per publisher headlines.
- • CEO Michael Novogratz said the latest crypto rally is not built on new money, and that Bitcoin is unlikely to crack $100,000 this year, with a near-term move above $80,000 possible but sideways trading expected.
- • Novogratz argued Bitcoin reclaiming its 50-week moving average has marked the final bottom in 4 of the last 5 completed bear markets, per Galaxy Digital commentary.
- • Galaxy Digital executives said demand for crypto rose sharply in 2025 after investors avoided the asset class during the prior four years.
Summary
CNBC's headline frames Citi's assessment that crypto is recovering and that Galaxy Digital could benefit from the rebound. The original article could not be retrieved, so the following draws on the publisher's own headlines and snippets, which reflect Galaxy Digital's public commentary.
Galaxy Digital Inc. posted a wider-than-expected loss of almost $500 million during the crypto market's fourth-quarter crash. Separately, a headline reports that Galaxy Digital stock fell 14% after an $85 million Q2 loss, with revenue down 15% to $8.7 billion as digital asset prices declined. These figures come from different reporting periods and should be read with that in mind.
Galaxy CEO Michael Novogratz, appearing on CNBC's 'Squawk Box' and on the company's earnings call, argued that the latest crypto rally is not built on new money. On the earnings call he suggested Bitcoin could break above $80,000 in the near term but is likely to trade sideways, and that it will not crack $100,000 this year. He also said Bitcoin reclaiming its 50-week moving average has marked the final bottom in four of the last five completed bear markets. Novogratz has told investors to expect a much lower-volatility market as Wall Street and the downturn reshape the sector.
Galaxy Digital executives said investors avoided crypto for the past four years under a hostile administration, and that demand sharply increased in 2025 following the passage of U.S. legislation. Technical analyst Adam Lynch has also noted that bitcoin has broken through key levels, though the headline snippet does not include detail on the specific levels.
Galaxy Digital Inc. posted a wider-than-expected loss of almost $500 million during the crypto market's fourth-quarter crash. Separately, a headline reports that Galaxy Digital stock fell 14% after an $85 million Q2 loss, with revenue down 15% to $8.7 billion as digital asset prices declined. These figures come from different reporting periods and should be read with that in mind.
Galaxy CEO Michael Novogratz, appearing on CNBC's 'Squawk Box' and on the company's earnings call, argued that the latest crypto rally is not built on new money. On the earnings call he suggested Bitcoin could break above $80,000 in the near term but is likely to trade sideways, and that it will not crack $100,000 this year. He also said Bitcoin reclaiming its 50-week moving average has marked the final bottom in four of the last five completed bear markets. Novogratz has told investors to expect a much lower-volatility market as Wall Street and the downturn reshape the sector.
Galaxy Digital executives said investors avoided crypto for the past four years under a hostile administration, and that demand sharply increased in 2025 following the passage of U.S. legislation. Technical analyst Adam Lynch has also noted that bitcoin has broken through key levels, though the headline snippet does not include detail on the specific levels.
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