$ADA $BTC $SOL #Bitcoin #cardano #Solana🚀
After $60K Crash, BTC ‘Will Continue Its Trend Higher,’ Says Mike Novogratz
Bitcoin slumped to around $60,900 from around $68K, shredding above 10.3% in the past day.
Solana, XRP, and ADA witnessed bigger losses exceeding 20%.
Mike Novogratz says after the recent risk flush, Bitcoin will continue its trend higher.
The crypto market witnessed a bloodbath in the last 24 hours, with Bitcoin slumping to around $60,900 from an intraday high of $67,900. While $7,000 BTC was ripped off by a 10.3% drop, the broader market witnessed more surprising losses.
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In particular, cryptocurrencies like Solana (SOL), XRP, and Cardano (ADA) have witnessed larger losses exceeding 20% as Bitcoin retested the $60K threshold. This unexpected bear market condition has sparked various speculations about the cause by the crypto community.
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In particular, the prevailing view suggests that the market is slumping in response to the growing global conflict, particularly between Iran and Israel. Billionaire Bitcoin investor Mike Novogratz, CEO of Galaxy, expressed this view in a recent post on X.
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