- A buy signal
- Canary in the coal mine
Galaxy CEO Mike Novogratz predicted that 2026 could be a big year for cryptocurrencies.
Still, he acknowledges the technical reality that the asset is “stuck.”
Novogratz claims that Bitcoin would need to recover $100,000 to start gaining momentum.
“I need to see it start to gain momentum and break $100,000, and then I’d be really excited… but I think crypto could be a good 2026.”
A buy signal
In financial markets, extreme apathy often indicates a bottom because it means that all sellers have probably already sold. Consider this lack of hype a bullish outlook for 2026 because the market is not overheated.
“I also think negativity in crypto is a contrarian indicator… macro sentiment in crypto retail Twitter crypto Twitter dead… So that makes me positive as well,” he said.
Gold has recently recorded “monster moves” based on macroeconomic factors such as fear of inflation or currency devaluation. However, Bitcoin did not follow suit despite its proponents touting it as “digital gold.” Novogratz argues that the fundamental drivers are there, but the price action has failed to
“I think cryptocurrencies have greatly underperformed. It has the same history as gold, and it hasn’t been gold at all this year… It has all the ingredients… it’s not moving yet,” Novogratz said.
Canary in the coal mine
Novogratz has also issued a critical macroeconomic warning about Japan. The fifth-largest economy has kept interest rates near zero for decades.
Now that their rates are rising to 2%, this disrupts global markets because cheap Japanese cash has funded investments everywhere.
Novagratz warns that this could be a preview of what will happen in the US if inflation forces rates to be higher than expected.
“You’re watching the long Japanese ending [rates]…it basically went from 10 basis points… to 2%. “So the biggest move in Japanese long-term rates that we’ve seen in years… is perhaps the canary in the coal mine that could happen in places like the United States,” he said.
