{"id":16427,"date":"2025-09-27T06:37:50","date_gmt":"2025-09-27T04:37:50","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=16427"},"modified":"2025-09-27T06:37:50","modified_gmt":"2025-09-27T04:37:50","slug":"mike-novogratz-envisions-major-bullish-catalyst-ahead-for-bitcoin","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/09\/27\/mike-novogratz-envisions-major-bullish-catalyst-ahead-for-bitcoin\/","title":{"rendered":"Mike Novogratz Envisions Major Bullish Catalyst Ahead for Bitcoin"},"content":{"rendered":"

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Galaxy Digital CEO Mike Novogratz mentioned that Bitcoin\u2019s value could experience a notable surge if the forthcoming US Federal Reserve chair nominee to succeed Jerome Powell is highly dovish.<\/p>\n

\u201cThat\u2019s potentially the largest bullish catalyst for Bitcoin and the remainder of crypto,\u201d Novogratz stated<\/a> during a conversation with Kyle Chasse released on YouTube on Friday.<\/p>\n

\u201cThe Fed is cutting when they ought not to, and you introduce a significant dove,\u201d Novogratz expressed, suggesting that may result in \u201cyour blow-off top\u201d moment for Bitcoin (BTC<\/a>).<\/p>\n

\u201cCan Bitcoin reach $200K? Absolutely it could\u2026Because it ignites an entirely new discussion if that occurs.\u201d<\/p><\/blockquote>\n

Novogratz underscored that while the prospective scenario of aggressive rate cuts would be favorable for crypto, it would indeed bear significant repercussions. \u201cDo I wish for it to happen? No. Why? Because I genuinely care for America,\u201d he remarked.<\/p>\n

Novogratz states it won\u2019t bode well for the US<\/h2>\n

\u201cIt would be tremendously detrimental for America,\u201d he mentioned, adding that the Fed might potentially lose its autonomy.<\/p>\n

A dovish approach from the Federal Reserve is generally expected to devalue the US dollar. Nonetheless, it is frequently regarded as a bullish trigger for Bitcoin and other high-risk assets, as conventional assets like bonds and fixed deposits become less attractive to investors.<\/p>\n

Bitcoin is trading at $109,450 at the time of publication. Source: <\/em>CoinMarketCap<\/em><\/a><\/figcaption><\/figure>\n

Resonating a similar viewpoint to Novogratz, Daleep Singh, vice chair and chief global economist at PGIM Fixed Income, recently mentioned<\/a>, \u201cThere\u2019s a significant likelihood that the FOMC will behave quite differently\u201d following Powell\u2019s term conclusion in May 2026.<\/p>\n

\u201cCyclical trends suggest that the risks to the dollar skew towards the downside,\u201d Singh added.<\/p>\n

Novogratz mentions it might induce an \u201coh shit moment\u201d<\/h2>\n

Novogratz cautioned that should Trump fulfill his commitment to appoint \u201ca dove,\u201d it could induce an \u201coh shit moment.\u201d <\/p>\n

\u201cGold soars\u2026Bitcoin skyrockets,\u201d Novogratz expressed.<\/p>\n

\u201cIt was accounted for that he was going to select someone dovish, but no one is entirely certain,\u201d he added.<\/p>\n

Novogratz conveyed that this potential scenario likely won\u2019t be reflected in the market until the announcement is officially made. \u201cI don\u2019t believe the market will trust that Trump\u2019s going to do the unexpected until he actually does the unexpected,\u201d Novogratz noted.<\/p>\n

Related: <\/strong><\/em>Bitcoin’s underperformance indicates \u2018distinct\u2019 Q3 altseason: Grayscale<\/strong><\/em><\/a><\/p>\n

Trump has reportedly<\/a> narrowed his shortlist for the next Federal Reserve chair to three candidates: White House economic adviser Kevin Hassett, Federal Reserve Governor Christopher Waller, and former Fed Governor Kevin Warsh. <\/p>\n

\u201cYou could say those are the top three,\u201d Trump informed reporters at the Oval Office on Sept. 6.<\/p>\n

The Fed delivered its initial rate cut of 25 basis points<\/a> in September, a maneuver largely forecasted by the market, although Waller had been advocating for a rate cut in July.<\/p>\n

Magazine:<\/strong><\/em> \u2018Help! My robot vac is stealing my Bitcoin\u2019: When smart devices attack<\/strong><\/em><\/a><\/p>\n