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Galaxy CEO: Fed Rate Cuts Could Revive Bitcoin and Silence Critics

Bitcoin remains under pressure on June 20 as hawkish Fed policy and tight liquidity weigh on prices with little new buyer interest. Galaxy Digital CEO Mike Novogratz attributes the weakness to elevated rates that have hurt risk assets including gold and notes record-low RSI readings alongside declining search trends. He argues that an eventual economic slowdown forcing Fed easing and rate cuts would improve liquidity and revive demand, keeping the long-term inflation-hedge thesis intact. Novogratz advises giving Bitcoin the benefit of the doubt until at least early 2027 while questioning the durability of leveraged accumulation strategies. Long-term holders still control 79% of supply despite subdued momentum.

Category

Bitcoin

Sentiment

Mixed

Event

Market commentary

Reading time

1 min