Crypto Blog
Galaxy Digital CEO Mike Novogratz thinks Bitcoin’s price action is in for a lengthy sleeper period until the market “narrative” can rear its head.
Bitcoin’s price has historically been influenced by global macroeconomic trends, rising during periods of dovish central bank policy, and falling during hawkish periods. “Until you see that movement in short-term rates both here and abroad, and/or more regulatory clarity, Bitcoin probably trades in a range,” he predicted.
Both the Bitcoin halving and launch of the Runes token standard also took place last month, leaving two more narratives behind the leading crypto asset.
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