Galaxy Digital CEO Mike Novogratz says the 'dog days of summer' came early for crypto as bitcoin posts worst month since November
The cryptocurrency market's 2023 rally is cooling as bitcoin notched its first monthly loss of the year.
"Crypto's lackadaisical right now. There's a constant bid from retail. We're seeing it through all the platforms," he toldon Thursday, referencing Chinese social media giant WeChat's recent digital yuan integration."There's not a lot of institutional excitement right now." Risk assets are typically sensitive to tighter monetary policy, and top central banks are expected to continue their hawkishness.
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