TechFlow news, November 22 — According to Business Insider, Galaxy Digital CEO Michael Novogratz recently stated that the Trump administration has brought a "paradigm shift" in cryptocurrency regulation. He noted that nearly all members of Trump's cabinet hold Bitcoin and are supporters of digital assets, broadly favoring innovation, digital assets, and the development of Bitcoin.
Novogratz also mentioned that the market is currently in a price discovery phase with limited supply. However, he warned that due to high market leverage, Bitcoin could experience a pullback of up to 20% after surpassing $100,000, though the downside may be supported around $80,000. He believes buying demand from the Middle East and "infinite demand" from public markets are driving the rally.
