An interesting situation is developing in the crypto market in recent days. I noticed that analysts' opinions are sharply divided when it comes to where Bitcoin is headed next.

Michael Novogratz from Galaxy Digital stated in an interview with Bloomberg that Bitcoin may already be close to the bottom of the current decline. However, he clarified that he is speaking without full confidence. The founder of Galaxy Digital pointed out an intriguing detail — a lot of borrowed funds have been withdrawn from the system, and pessimism among crypto investors is sky-high. But here’s the strange part: gold is hitting records, the NASDAQ is growing, the pro-crypto administration is in place, yet Bitcoin is falling. Novogratz literally said that something here doesn’t add up.

According to Michael Novogratz, the BTC price should be in the range of $70,000 to $100,000. However, current data shows BTC trading around $69.56K with a 2.72% increase over the last 24 hours. ETH is currently at $2.14K, and Solana holds at $81.47. The fear and greed index is still low — 11 out of 100.

Another perspective was offered by John Deaton, a Senate candidate. He agreed with Novogratz that the math indeed doesn’t add up. Deaton blames traditional financial players — banks and what he calls the “old guard” — for manipulating prices through paper contracts and futures. In his view, this is the same scenario that was applied to silver before. He sees this as a clash between the old guard of financiers and new crypto players.

Meanwhile, Michael Burry has taken a very pessimistic stance. The legendary investor talks about a “death spiral” for Bitcoin. Unlike Novogratz, Burry does not believe that BTC has a bottom. He thinks the narrative of digital gold has collapsed, and the price movement is purely speculative. If miners go bankrupt and companies start selling assets to cover losses, it could only deepen the decline.

So, we have three positions: Novogratz believes in a bottom and recovery, Deaton sees system manipulation, Burry considers this the beginning of the end. The market is clearly in a state of uncertainty. It’s worth paying close attention to how events will unfold further. Michael Novogratz and his analysis remain in the spotlight because his forecasts often influence the sentiment of the crypto community.