🟦Galaxy Digital CEO Mike Novogratz believes Bitcoin’s market structure remains solid despite declining liquidity and heavy deleveraging earlier in October. He noted that this “market cleanup” has reduced systemic risks by flushing out excessive leverage, allowing market makers to gradually restore order book depth.
🟦Following the October 10 crash, Bitcoin stabilized above $107,500 and is now trading near $111,000, forming a base for a potential move toward $118,000. Novogratz added that ongoing consolidation and lighter leverage create a healthier, more stable environment, while the expected passage of a U.S. crypto regulation bill could serve as a catalyst for Bitcoin’s next bullish impulse.