Introduction to Bitcoin’s Price Fluctuations
Throughout its history, bitcoin and other cryptocurrencies have been subject to significant price fluctuations, whether that’s due to larger macro factors impacting all asset classes or during “crypto winters” tied to industry concerns. According to Galaxy founder and CEO Mike Novogratz, the recent decline in bitcoin’s price is not due to a single event, but rather a reflection of a larger industry shift.
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Current Decline in Bitcoin’s Price
Bitcoin is down more than 21% so far this year, and it fell to $60,062.00 last week — its lowest level in roughly 16 months. That marked a drop of nearly 50% from its record back in October 2025. Novogratz noted that the wipeout that occurred in October 2025, where more than 1.6 million traders suffered a combined $19.37 billion erasure of leveraged positions over a 24-hour period, was a significant event that put plenty of pressure on prices.
Impact of Speculation on Crypto Market
Novogratz believes that the recent era of crypto investing, “the age of speculation,” will be phased out going forward as the crypto industry has brought in “institutions where people have a different risk tolerance.” He stated that retail people don’t get into crypto because they want to make 11% annualized, but rather because they want to make significant returns, such as 30 to one, eight to one, or 10 to one.
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Bitcoin price since the start of 2026
Future of Crypto Market Structure Bill
Novogratz is confident that a crypto market structure bill will eventually become law, citing his conversation with Senate Minority Leader Chuck Schumer, who expressed support for passing the CLARITY Act. Novogratz believes that the crypto industry needs the bill for “a lot of reasons,” including to bring back spirit to the crypto market.
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Smart Tip for Readers
To stay informed about the rapidly changing crypto market, it’s essential to follow credible sources and stay up-to-date on the latest developments and trends. By doing so, readers can make more informed decisions and navigate the complex world of cryptocurrency with confidence.
