Bitcoin Drops as Novogratz Blames MicroStrategy "Crisis of Confidence
Galaxy's CEO pinned the leg lower on founder-driven doubt around MicroStrategy and a hawkish macro setup, warning that a $60K-$59K break opens the door to a $45K retest.
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Galaxy's CEO pinned the leg lower on founder-driven doubt around MicroStrategy and a hawkish macro setup, warning that a $60K-$59K break opens the door to a $45K retest.
The price drop matters less than how it happened: a 170% volume spike drove the break, the bounce couldn't reclaim the level, and the year-long triangle just got tighter.
Shrinking exchange balances and $1.42B in spot ETF inflows would normally cushion the bid — instead, XRP keeps ignoring the narrative and sliding, a divergence that often shows up late in a downtrend.
The breakdown of the $1.30 line that traders spent weeks defending came on the heaviest volume of the session — and the 25M+ XRP that left exchanges still hasn't translated into a bid capable of…
The breakdown itself is the headline, but the symmetrical triangle that has compressed XRP since early 2025 is now sitting at its apex — a lower resolution is the higher-probability path if $1.30…