Novogratz Sees Bitcoin Pausing While Treasuries Dive Into Altcoins

Bitcoin is trading around $115,400, up about 1% today. Ethereum has also inched higher, while Dogecoin jumped 4–5%, making it one of the day’s top performers. Overall sentiment in the crypto market is cautiously positive as traders wait for clues from the U.S. Federal Reserve. Hopes of interest rate cuts, along with steady progress on crypto ETFs and regulation, are keeping momentum alive.

Altcoins Attract Big Money

While Bitcoin remains range-bound, altcoins are pulling in fresh capital.

• BitMine Immersion Technologies made headlines with a $200 million Ethereum purchase, boosting its ETH treasury to more than $9 billion.
• On the Solana side, Forward Industries announced a massive $1.65 billion plan to build a Solana-focused treasury, backed by Galaxy Digital, Jump Crypto, and Multicoin Capital.

These moves are bringing not just money, but also renewed momentum and excitement into the altcoin sector.

Bitcoin’s Quiet Phase

Over the past week, Bitcoin has been trading between $110,000 and $116,000 without a clear breakout. According to Galaxy Digital CEO Mike Novogratz, this sideways movement is normal as capital rotates into altcoins.

“Bitcoin is simply pausing before its next big run, which could arrive by the end of the year,” Novogratz said.

Fed Cuts and Regulation Could Spark the Next Rally

Novogratz believes the Federal Reserve’s upcoming rate cuts will be a major driver of Bitcoin’s next surge. Historically, lower rates benefit risk assets, and Bitcoin could be one of the top winners.

On the regulatory front, the tone is also shifting. SEC Chair Paul Atkins has been pushing for updated securities rules to bring more activity on-chain. Meanwhile, Nasdaq has filed for approval to tokenize stocks and ETFs, signaling that traditional markets are beginning to embrace blockchain technology.

Beyond Bitcoin’s Store-of-Value Role

For years, Bitcoin has been viewed mainly as a digital store of value, while stablecoins handled payments. But now, with faster blockchains, safer infrastructure, and clearer rules, the crypto landscape is expanding.

Novogratz explained:

“Ethereum, Solana, and other chains each have their own strengths. Instead of one winner, the industry will grow as a full ecosystem.”

From Hype to Real Progress

Summing up the market’s shift, Novogratz said:

“Crypto is moving from narrative to plot — from hype to real progress.”

If he’s right, Bitcoin’s calm phase is just a pause, while altcoins continue to fuel the next chapter of crypto’s growth story.