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Crypto

Galaxy Digital CEO says U.S. fiscal deficits are positive for bitcoin, keeps bullish view

Galaxy Digital CEO Mike Novogratz said persistent U.S. government fiscal deficits are a key factor behind his continued bullish outlook for bitcoin. He said a structure that fails to control spending ultimately strengthens the investment case for the cryptocurrency. He cited July federal revenue of $334 billion and spending of $766 billion, and pointed to Congressional Budget Office projections that public debt could rise to 120 percent of GDP by 2036.

Crypto

Bitcoin nears full breakout zone, target $72,000 to $76,000

Bitcoin is nearing a short-term upside breakout zone, a trader said, citing two bullish patterns visible on a six-hour chart: an inverse head-and-shoulders and a falling wedge. Technical targets were placed between $72,669 and $76,698. The key near-term resistance was put at $65,000, where selling has appeared repeatedly. Galaxy Digital CEO Mike Novogratz said bitcoin may range between $60,000 and $80,000 for the rest of the year.

Crypto

Bitcoin faces possible worst halving as cycle diverges from past patterns

Bitcoin is trading above $60,000, but its current cycle following the 2024 halving is showing the weakest performance on record, according to a report. U.Today said bitcoin fell 6 percent over the past week and stayed in a downtrend through June. The report said the usual post-halving early rally has not appeared and some investors who bought at the 2024 halving are now in losses. Galaxy CEO Mike Novogratz cited macro factors and uncertainty around Strategy.