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Galaxy Digital CEO Sees It Hard For Crypto To Bounce Back Before Stocks Recover

Mary Liu

Summary: Galaxy Digital CEO Mike Novogratz said on Twitter that the cryptocurrency has seen a sizeable sell-off and is gaining some buying support.  He predicts that the downward pressure on the Nasdaq and cryptocurrencies will not ease as long as interest rates continue to rise, and it will be difficult for cryptocurrencies to rebound until the ...

Galaxy Digital CEO Mike Novogratz said on Twitter that the cryptocurrency has seen a sizeable sell-off and is gaining some buying support. 

He predicts that the downward pressure on the Nasdaq and cryptocurrencies will not ease as long as interest rates continue to rise, and it will be difficult for cryptocurrencies to rebound until the stock market picks up.

Bitpush Terminal data shows that Bitcoin is precarious at the support level of $38K, trading at $38,225.88 at press time. Mike Novogratz earlier predicted that institutional investors would see $38K as an attractive buy opportunity as they want to buy in the 2022 sell-off. 

By Mary Liu

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