Mike Novogratz, the founder and CEO of Galaxy Digital Holdings—a leading 
crypto investment firm listed on the Toronto Stock Exchange—has signaled a 
significant shift in the global adoption of Bitcoin. In a post on Tuesday via 
X, Novogratz declared that countries are already purchasing Bitcoin. Nation- 
State Bitcoin FOMO Is Real &#8220;Countries are already buying BTC in huge 
volumes—these are massive pools of capital entering the market. We&#8217;re 
witnessing global adoption at scale and the next rally could be massive. 
Buckle up. Caught up last week with Bloomberg TV, he stated via X. In the 
Bloomberg interview, Novogratz elaborated on the unprecedented interest from 
sovereign entities. He mentioned a close associate—the person who introduced 
him to BTC in 2013—who is currently in the Middle East. &#8220;He&#8217;s never seen 
anything like it,&#8221; Novogratz said. &#8220;He&#8217;s convincing more people to buy Bitcoin 
in the three days he&#8217;s been there than any time in his whole career, and 
they&#8217;re huge pools of capital. And so we&#8217;re seeing something globally.&#8221; 
Related Reading: US Bitcoin Reserve Will Push Price Above $1 Million, Expert 
Predicts Novogratz noted that when former President Donald Trump advocated in 
Nashville that he intended to be a &#8220;crypto president&#8221; and a &#8220;Bitcoin 
president,&#8221; it caught the attention of international leaders. &#8220;Other leaders 
heard that,&#8221; he remarked, suggesting that geopolitical factors could 
contribute to an &#8220;amazing rally&#8221; in the Bitcoin market. When questioned about 
the likelihood of the United States establishing a Strategic BTC Reserve under 
a Trump presidency, Novogratz remained cautious. &#8220;I still think it&#8217;s a low 
probability,&#8221; he stated. He cited the complexities of US legislative 
processes, emphasizing that while the executive branch or the House might show 
enthusiasm, the Senate often urges restraint. &#8220;That&#8217;s the role of the Senate,&#8221; 
he said, pointing out that Republicans do not hold a 60-seat majority 
necessary to push through such initiatives unilaterally. Nonetheless, 
Novogratz acknowledged the potential benefits of the US embracing Bitcoin at a 
strategic level. &#8220;It would be very smart for the United States to take the 
Bitcoin they have and maybe add some to it,&#8221; he suggested, adding that it 
would signal a commitment to being a &#8220;technology-first country, a crypto and 
digital asset-first country.&#8221; While he doesn&#8217;t believe the US dollar requires 
backing by Bitcoin, he admitted that if a Strategic Bitcoin Reserve were 
established, &#8220;Bitcoin heads to $500,000.&#8221; Related Reading: BitMEX Founder 
Predicts How Bitcoin Goes To $1 Million Under Trump He added: &#8220;If it happens 
in the short term without a Strategic Bitcoin Reserve, it&#8217;s going to mean six, 
seven, eight years,&#8221; Novogratz cautioned. &#8220;Then it&#8217;s just a scramble to get 
the hot commodity.&#8221; He expressed concerns that such a scenario could be 
indicative of hyperinflation, which historically leads to societal 
instability. &#8220;In every country that experiences hyperinflation, the results 
are really crappy,&#8221; he noted. Discussing Bitcoin&#8217;s potential to rival gold as 
a store of value, Novogratz highlighted a generational shift in investment 
preferences. &#8220;The total market cap of gold is like $16 trillion,&#8221; he 
explained, which translates to approximately $800,000 per BTC if it were to 
reach parity. &#8220;When does Bitcoin become gold?&#8221; he asked rhetorically. 
Novogratz, who is turning 60 next week, admitted he still owns gold, calling 
himself &#8220;an old guy.&#8221; However, he pointed out that younger generations are 
less inclined to invest in gold. &#8220;Forty-year-olds own no gold. Thirty-year- 
olds own none,&#8221; he observed. &#8220;As we see this generational shift, Bitcoin 
should match gold within five or ten years, and that gets you to $800,000.&#8221; At 
press time, BTC traded at $93,000. Featured image from YouTube, chart from 
TradingView.com

Countries Are Already Buying Bitcoin ‘In Huge Volumes’, Says Novogratz

Nate Geraci, President of the ETF store, shared that major players are 
interested in new crypto index funds.

ETF store president Nate Geraci hints at upcoming spot ETFs

Litecoin price is consolidating above the $80.00 level against the US Dollar. 
LTC could start a fresh increase if it clears the $88.00 resistance zone. 
Litecoin is showing positive signs from the $80 support zone against the US 
Dollar. The price is now trading below $88 and the 100-hourly Simple Moving 
Average. There is a key bearish trend line forming with resistance at $86.00 
on the hourly chart of the LTC/USD pair (data feed from Kraken). The price 
could start a fresh increase if it clears the $88.00 resistance zone. Litecoin 
Price Eyes Fresh Increase After forming a base above $85, Litecoin started a 
fresh increase. LTC price broke the $88 and $90 resistance levels to move into 
a positive zone, like Bitcoin and Ethereum. The price gained over 10% and even 
cleared the $95 level. A high was formed at $98 before there was a pullback. 
The price dipped below $88 and tested $82. A low was formed at $81.69 and the 
price is now consolidating losses below the 23.6% Fib retracement level of the 
downward move from the $94.71 swing high to the $81.69 low. Litecoin is now 
trading below $88 and the 100 simple moving average (4 hours). On the upside, 
immediate resistance is near the $85.00 zone. There is also a key bearish 
trend line forming with resistance at $86.00 on the hourly chart of the 
LTC/USD pair. The next major resistance is near the $88 level or the 50% Fib 
retracement level of the downward move from the $94.71 swing high to the 
$81.69 low. If there is a clear break above the $88 resistance, the price 
could start another strong increase. In the stated case, the price is likely 
to continue higher toward the $92 and $95 levels. Any more gains might send 
LTC’s price toward the $100 resistance zone. More Losses in LTC? If Litecoin 
price fails to clear the $86 resistance level, there could be another decline. 
Initial support on the downside is near the $82 level. The next major support 
is forming near the $80 level, below which there is a risk of a move toward 
the $75 support. Any further losses may perhaps send the price toward the $68 
support. Technical indicators: Hourly MACD – The MACD is now losing pace in 
the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for LTC/USD 
is below the 50 level. Major Support Levels – $82.00 followed by $80.00. Major 
Resistance Levels – $86.00 and $88.00.

Litecoin (LTC) at a Crossroads: Can It Rebound and Rally?

Bitwise&#8217;s Solana ETF filing highlights growing institutional interest in 
crypto assets, potentially influencing broader market adoption trends.
The post Bitwise files for Solana ETF via Delaware trust appeared first on 
Crypto Briefing.

Bitwise files for Solana ETF via Delaware trust

Ethereum (ETH) has consolidated since November 12, when it hit a local high of 
$4,446. Despite Bitcoin’s impressive rally capturing market attention, 
Ethereum has struggled to maintain upward momentum and reclaim its yearly 
highs. The price action reflects a period of indecision, as ETH faces 
challenges in breaking through significant resistance levels that could 
reignite bullish sentiment. Related Reading: Bitcoin Demand Outweighs Supply 
As LTH Enter Active Distribution Phase While Ethereum lags behind Bitcoin in 
performance, analysts remain optimistic about its potential for a breakout. 
Notably, Carl Runefelt, a prominent crypto analyst, recently shared a 
technical analysis suggesting that ETH is on the verge of a major move. 
According to Runefelt, Ethereum must push above a key resistance level to 
trigger a breakout and rejoin the broader market&#8217;s bullish trend. As the 
second-largest cryptocurrency by market cap, Ethereum’s next steps will be 
crucial for traders and investors watching the market closely. A breakout 
above resistance could signal the start of a new upward phase, while continued 
consolidation might test the patience of market participants. With technical 
signals aligning and speculation building, Ethereum’s price action in the 
coming days will likely set the tone for its performance in the weeks ahead. 
Ethereum Prepares To Surge Ethereum has been underwhelming in its price action 
since March, struggling to keep pace with Bitcoin&#8217;s performance. Despite a few 
notable surges, ETH has yet to achieve the breakout investors eagerly 
anticipate. Related Reading: Solana Analyst Expects A Retrace Before It Breaks 
ATH – Targets Revealed The prolonged consolidation has frustrated some 
traders, but an optimistic sentiment remains among those who believe Ethereum 
is poised for a significant rally once it clears key supply levels. Top crypto 
analyst Carl Runefelt recently shared his technical analysis on X, 
highlighting Ethereum&#8217;s current position within a bullish flag pattern. 
According to Runefelt, ETH has attempted to break out of this formation for 
the past two weeks, facing stiff resistance at critical supply zones. However, 
he remains confident that it could rapidly surge to $4,150 once Ethereum 
breaches this level. Such a move would mark a substantial percentage increase 
from current prices, sparking a wave of investor enthusiasm. The fear of 
missing out (FOMO) could drive additional buying momentum, creating a self- 
reinforcing price appreciation cycle. If ETH follows this trajectory, it would 
confirm the bullish flag breakout and signal Ethereum’s return to a dominant 
position in the crypto market. ETH Price Action: Technical Details Ethereum is 
trading at $3,120 following several days of sideways consolidation below its 
recent local high of $3,446. Despite the pause in upward momentum, ETH has 
shown strength by surging above the critical 200-day moving average (MA), 
currently at $2,957, and maintaining its position above this key technical 
indicator. The 200-day MA is often a pivotal line between bullish and bearish 
trends. Ethereum’s ability to stay above it signals robust support from buyers 
and growing confidence in the market. If ETH continues to hold this level, it 
could pave the way for a bullish surge, with the first target being the local 
top at $3,446. Beyond that, a break above this resistance level could see ETH 
aiming for yearly highs near $4,000, reigniting enthusiasm among traders and 
investors. Such a move would likely confirm Ethereum’s return to a sustained 
uptrend, aligning it more closely with Bitcoin’s recent bullish performance. 
Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst 
Reveals Target However, losing the 200-day MA as support could introduce risks 
of a pullback, potentially sending ETH to retest lower levels. Ethereum’s 
price action remains strong, with the market eagerly watching for the next 
significant move. Featured image from Dall-E, chart from TradingView

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