Galaxy Digital CEO: The Activity of Sellers is Weakening

Despite strong sell-offs in the stock market last Thursday, Bitcoin was able to stay above $19,000. On Friday, September 30, the largest digital currency was trading at about $19,500.

Galaxy Digital CEO Mike Novogratz believes BTC held steady in September due to the fact that the majority of investors left the crypto market, reacting negatively to the aggravation of volatility. They sold all their reserves and left the crypto sphere, as a result, the situation stabilized.

Bitcoin has been trading in a narrow range of $18,000 to $20,000 over the past few weeks. According to Novogratz, there is no such turbulence in the crypto sphere that is observed in the stock markets.

The billionaire does not rule out a resumption of the BTC rally after the Fed stops tightening monetary policy.