Crypto SWOT: Galaxy Digital’s Mike Novogratz says Bitcoin is stuck in a narrow trading range

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The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

El Salvador now owns 5,750 Bitcoin worth about $353 million at today’s prices,tracking website for the Treasury’s holdings of the coin, according to Bloomberg. week was Ethena, down 13.44%.

CME group, the world’s largest futures exchange, is planning to launch Bitcoin trading, writes Bloomberg, aiming to capitalize on surging demand this year among Wall Street managers. China busted an underground bank that illegally used cryptocurrency to conduct currency exchange operations between the Chinese yuan and the south Korean won involving at least 2.14 billion yuan , writes Bloomberg. The local police arrested six suspects who allegedly facilitated the case in China and South Korea.

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Galaxy’s Novogratz Sees Bitcoin Stuck in $55,000 to $75,000 Range for NowMichael Novogratz, the founder of digital-asset financial services firm Galaxy Digital Holdings Ltd., said Bitcoin is likely to remain stuck in a relatively narrow trading range for at least the current quarter while the adoption of crypto in traditional finance continues.
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