Galaxy CEO Predicts Market Rebound Amid Leadership Changes

According to Odaily, Galaxy founder and CEO Mike Novogratz shared insights on the X platform, highlighting that his company boasts the highest employee stock ownership in both the cryptocurrency and data center sectors. Novogratz noted the recent sluggish performance of the crypto market, attributing it to long-term holders rebalancing their assets after a prolonged bull market. He believes this redistribution is beneficial in the medium to long term, as it allows broader investor absorption, although it temporarily suppresses market prices. Novogratz expressed optimism about the future, stating that he does not consider the current situation to be the peak of this cycle. He anticipates the appointment of a new Federal Reserve Chair by the end of the year, who may adopt a more dovish stance than the market expects. Novogratz hopes this change will provide the narrative momentum needed to drive the next market upswing.