Galaxy Digital CEO Novogratz Says Bitcoin (BTC) Can End 2026 Near $100,000

Novogratz Calls the Cycle Low

Mike Novogratz, chief executive of Galaxy Digital, expects Bitcoin (BTC) to end 2026 near $100,000, even if the market first has to absorb one more short-term pullback. The Bitcoin price stood around $84,000 when he made the case in a recorded conversation with Anthony Scaramucci on the All Things Markets program, and he treated that level as the floor of a range rather than a stopping point. “I think the 60 print is the low of the cycle,” Novogratz said, pointing back to the asset’s slide toward the $60,000 area during the latest downturn. In his judgment, the worst of that drawdown has already been printed. “We’re at 84 as we speak. Maybe it goes to 78 or something, but it’s now, in my mind, an 80-100 range,” he said. “And I would not be surprised if we end the year close to 100, having gone through it.” A finish near six figures by December 31 would leave the asset roughly 19% above where it traded when the recording was made. Galaxy Digital, a financial services firm built around digital assets, gives the call weight because its desk sits directly in the flows it describes. Novogratz attached a caveat to the path, conceding that a dip toward the upper-$70,000s would not surprise him before any renewed advance. He also drew a firm line between the oldest cryptocurrency and everything traded beside it. “Again, Bitcoin (BTC) is different than the rest of crypto, but it actually drives a lot of the energy,” he said, a distinction that sits close to Bitcoin maximalism even though he presented it as market structure rather than doctrine. The unedited exchange, our primary record for this piece, is available on YouTube.

The figure Novogratz watches most closely right now is $80,000, and specifically how it behaves on a weekly closing basis. “I think right now 80, holding 80 on a weekly close, is important,” he said. “And, you know, we’ve tested it a couple times.” A level that has absorbed repeated tests without giving way tends to become the reference point traders mark their maps against, and anyone working through Bitcoin technical analysis will recognize the shape of the argument, with the upper-$70,000s sitting as the dip zone he concedes beneath it. What separates the call from a plain chart read is its supply side. Novogratz argued that much of the forced or motivated selling behind the recent slide has already run its course. “I think a lot of people that needed to sell sold,” he said. Capitulation, in this usage, means holders selling because they must rather than because they choose to: pressured sellers, from leveraged traders to whales caught on the wrong side of the drawdown, have largely cleared out, which in his view thins the order flow pressing on the market. The holders left standing are the ones whose behavior retail long ago labeled HODL, a refusal to sell into weakness that reduces available supply at the margin. Novogratz reinforced the same asymmetry on the demand side, noting that the asset drives the energy of the rest of crypto and still anchors the sector’s combined market cap. The year-end target is not a lone voice either. Fundstrat’s Sean Farrell has laid out a Fundstrat $100,000 call for 2026, and Santiment’s Uptober ETF-demand thesis ties a strong close to inflows arriving after 44,669 Bitcoin (BTC) of accumulation.

$80K Weekly Close in Focus

For COINOTAG, the load-bearing evidence here is primary rather than secondhand: Novogratz’s own recorded words, which commit him to two claims the tape can check, a $60,000 cycle low and a finish near $100,000 by December 31. The argument underneath them is a supply one, that seller exhaustion has done its work while the asset keeps its gravitational pull on the wider crypto market. The view now needs the market to answer a mechanical question, whether a weekly close holds $80,000 or the upper-$70,000s dip he allows arrives first. Either print will say more about the range thesis than any forecast made before it.