Novogratz sees $1 million Bitcoin as institutional and grassroots support converge. Mike Novogratz, head of Galaxy Digital, sees Bitcoin on a long-term upward path, potentially reaching the $1 million mark. Speaking with Natalie Brunell on Coin Stories, he linked this outlook to growing public use and the current fragility of the global economy. Novogratz stressed that a steady climb in value would be more sustainable than sharp, speculative surges. He pointed to the influence of high-profile supporters such as Michael Saylor and BlackRock’s Larry Fink in shaping market attitudes.
This may be the most bullish setup for Bitcoin since 2020.
— Swan (@Swan) May 2, 2025
Gold is taking a breather.
Liquidity is rising.
And Bitcoin is quietly positioning itself for something big.
Here’s why all the signals are flashing green 🧵 pic.twitter.com/95dWb3XUQN
Fink’s public recognition of Bitcoin as a legitimate asset has reportedly swayed major macro traders and expanded the cryptocurrency’s presence across financial networks. According to Novogratz, the backing of heavyweight institutions like BlackRock, along with repeated adoption cycles, is solidifying Bitcoin’s position as a credible global asset. These combined forces, he suggested, could attract significant investment flows and strengthen BTC’s role as a hedge in the evolving financial landscape.
Key Bitcoin Levels To Watch – August 12
BTCUSD is trading around $119,030, holding above the key support zone near $115,000 after a recent breakout. The price remains above the 9-day SMA at approximately $117,440, signaling sustained bullish momentum.
A clean break above $119,840 could open the path toward the $125,000 resistance zone. If buying pressure persists, the next upside target sits near $130,000.
Bitcoin Key Levels
Resistance Levels:, $119,840, $125,000, $130,000
Support Levels: $108,000, $96,000, $85,000
BTC Metrics
Total Market Capitalisation: $4.08T
Bitcoin Market Capitalisation: $2.41T
Bitcoin Volume: $81.40B
Market Rank: #1
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