Galaxy CEO: The current cycle has not yet peaked, and the new Federal Reserve Chair may drive the next wave of increases

Galaxy Digital founder and CEO Mike Novogratz stated on social media, "Currently, the employee ownership ratio in our company is the highest in both the cryptocurrency and data center industries. The crypto market has been quite sluggish recently. Personally, I believe that after a long bull market, many long-term holders are rebalancing their assets, diversifying some funds away from overly concentrated positions. In the medium to long term, this is a healthy thing, as these positions will gradually be absorbed by a broader range of investors; but in the short term, this adjustment is like a wet blanket, suppressing market prices. I do not believe we have reached the peak of this cycle yet. I think by the end of this year, we will see a new Federal Reserve chair, who may be more dovish (accommodative) than the market expects. I hope this can provide enough narrative momentum for the market to drive the next wave of upward movement."