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Bitcoin Set for Correction Before Continuing Upward Trend, Predicts Galaxy Digital CEO

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As Bitcoin surges toward its previous all-time high, industry experts are anticipating a correction before the digital asset can continue its upward trajectory.

Mike Novogratz, founder of Galaxy Digital, shared his insights with Bloomberg TV, suggesting that while Bitcoin has soared past the $60,000 mark this week, a correction is likely imminent.

Bitcoin Enters “Price Discovery” Phase

“I wouldn’t be surprised to see some correction and some consolidation, but I’m very loath to pick a Bitcoin high because I really do believe this is price discovery,” stated Novogratz, highlighting the ongoing exploration of BTC’s true value.

He elaborated that a correction could see Bitcoin fall to the mid-$50,000s before experiencing another surge to set a new high. The recent price surge, fueled by the approval of spot BTC ETFs in the U.S., has propelled Bitcoin into a “price discovery” phase, attracting new investors.

Novogratz cautioned that the market has become overly frothy, with retail investors leveraging their positions to an unsustainable extent. He warned that many investors, particularly millennials and Gen Z traders, could face losses in such a volatile environment.

Despite short-term fluctuations, Novogratz remains bullish on Bitcoin’s long-term prospects, pointing to the potential influx of baby boomer wealth into the cryptocurrency market.

With baby boomers accounting for approximately $85 trillion in wealth, a small shift of 1% to 3% of their investments into Bitcoin could significantly boost the value of the digital asset.

“3% of that is two and a half trillion. The whole market cap of Bitcoin is only a little more than 1.2 trillion,” he said.

Caution Amidst Bullish Surge

The recent rally saw Bitcoin reaching highs not seen in over two years, briefly touching $64,000. Bitcoin’s price is currently at $61,500, according to CoinGecko data.

This rally has sparked comparisons to Bitcoin’s prior all-time peak of almost $69,000 in November 2021, causing certain investors to speculate that it might signify the onset of a fresh bull market for cryptocurrencies.

However, co-founder of Matrixport, Daniel Yan, recently urged caution amidst the bullish sentiment. Yan warned about being overly optimistic, pointing out that overly enthusiastic market sentiment and uncertain macroeconomic factors could increase volatility.

Yan also advised investors to consider the potential for corrections, predicting a retracement of approximately 15% by the end of April.

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Tether’s CEO Announces Decentralized AI Solution Utilizing Bitcoin and USDT

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Paolo Ardoino, the CEO of the company behind the world’s largest stablecoin, announced on May 5 that his firm will soon launch an open-source AI runtime solution.

He reaffirmed Tether’s ambitions to become a global name in the growing artificial intelligence industry.

His tweet reads that the upcoming solution will not need API keys as it won’t have a central point of failure. It will be a “fully open-source AI runtime, capable to adapt and evolve on any hardware and device.”

It will also integrate Tether’s Wallet Development Kit (WDK) to support payments using the company’s native and largest stablecoin (USDT) as well as Bitcoin (BTC).

In a separate post, Ardoino explained that Tether AI will have only one goal – to be the ideal technological foundation to achieve the vision of AI described in Isaac Asimov’s science fiction books. He believes the technology will become a “part of the very fabric of the universe” in the following decades.

As such, Tether is developing its own version, which will be “open-source, transparent, scalable, and able to adapt and evolve on any device regardless of the hardware” behind it.

The company has already made a few AI-related moves in the past year or so, including unveiling another platform called Tether Data.

It has also become a major player in the Bitcoin landscape. Not only does it continue to accumulate BTC frequently, but it has also gone deeper into the mining industry.

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5 Altcoins Set to Explode Before Bitcoin’s Next Bull Run (ChatGPT Predicts)

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In the following article, we take a closer look at five altcoins that are set to explode according to none other but ChatGPT’s insight. Beyond its reasoning, though, we will also see their current price performance and try to determine if there’s any merit into its logic.

Altcoins vs. Bitcoin: a Neverending Battle

Bitcoin has always been considered the go-to cryptocurrency to invest in for people looking for long-term exposure to the industry. Why? Well, it’s considered to be the safest, despite its considerable volatility compared to traditional financial markets.

But it’s also true that Bitcoin’s price is currently above $90,000 and it’s hard to imagine a growth of, let’s say, 10-15x in the next couple of years, at least according to most of the analysts out there.

Traditionally, those seeking riskier (and therefore, potentially more opportunistic) investments have been turning to the far more volatile market of altcoins.

That’s why today we decided to ask ChatGPT about its take on the 5 altcoins set to explode before Bitcoin marks another move up. And it’s answer was… interesting.

Ethereum (ETH): “The Unstoppable Ecosystem”

According to the AI model, ETH is the first prime candidate for major gains before the next Bitcoin bull run.

“Ethereum may be the second-largest crypto, but it’s still considered an altcoin – and its potential remains massive. With the continued rollout of Ethereum 2.0 upgrades, reduced gas fees, and rising institutional interest, ETH is positioned to ride the next wave. Experts see Ethereum’s dominance in DeFi, NFTs, and tokenization only expanding.”

That’s an interesting take, although I can’t help but feel it’s kind of outdated. First things first, Vitalik Buterin did outline his vision for the project in 2025 and the focus is on L1s, Blobs, and UX improvements. Furthermore, he just said that he wants to make Ethereum as simple as Bitcoin for long-term success, resilience, and scalability.

It’s no secret that ETH has been one of the most disappointing altcoins this cycle and that its value against BTC has gone down exclusively since September 2022.

ETHBTC_2025-05-05_12-58-26
Source: TradingView

Ethereum has faced constant criticism and numerous challenges that the team is currently trying to solve. The NFTs that were so popular a few years back are largely dead or at the very least heavily depreciated and the market sentiment toward them is nowhere near where it was.

As for Ethereum’s dominance in DeFi, competing protocols like Solana, SUI, the Binance BNB Chain, and many, many more, are slowly chipping away at what was once the unquestionable king of DeFi.

Solana (SOL): “Speed, Scale, and Killer Apps”

Second on ChatGPT’s list is Solana, which seems more reasonable, given the massive gains it was able to chart in 2024.

SOLBTC_2025-05-05_13-02-43
Source: TradingView

As seen in the SOL/BTC long-term chart, the altcoin was able to perform a lot better than ETH and pretty much did better than BTC in 2024. It’s been all downhill in 2025, though.

According to the AI chatbot:

Solana’s lighting-fast transaction speeds and low costs have made it a favorite for developers launching DeFi apps, NFT platforms, and GameFi projects. After recovering from previous network setbacks, SOL has shown resilience and a committed ecosystem – making it one to watch as Bitcoin drags the market upwards.

All of the above is true, but it seems that ChatGPT is missing the crux of last year’s leg up – meme coin and to be even more precise – meme coin “presales” through pump.fun. It’s perhaps safe to say that Solana’s success in 2024 is largely due to the massive hype behind them. Hell, even the president of the US launched his own token. But now that meme coins have been revealed for what the large majority of them indeed is – money-grabs, scams, and downright frauds, the market has cooled down. And so has Solana.

Will it outperform Bitcoin if meme coins are out of breath?

Arbitrum (ARB): “Leading the Layer 2 Charge”

Let’s kick this off by saying that ARB is currently trading more or less at an all-time low against BTC.

ARBBTC_2025-05-05_13-12-55
Source: TradingView

Similarly to SOL, it had a good time in 2024, but that’s gone now. Data from DeFi Llama shows that current total value locked in Arbitrum is around $11 billion, which is definitely a lot, but when compared to Ethereum’s $365B – it pales. It’s not even in the top 5 . But let’s see what ChatGPT has to say about it:

As Ethereum’s leading Layer 2 scaling solution, Arbitrum offers faster, cheaper transactions while tapping into Ethereum’s massive liquidity. With growing adoption by dApps and decentralized exchanges, ARB could surge as demand for Layer 2 solution explodes during a bull cycle.

Chainlink (LINK): “The Oracle Powerhouse”

Next up – the favorite project of thousands of people, especially those of you who are here since before the last cycle – Chainlink (LINK).

LINKBTC_2025-05-05_13-44-37
Source: TradingView

Chainlink is an integral part of decentralized finance and it has been one for quite a while now. As you can see, market cycles are definitely impacting its price and it is outperforming Bitcoin during certain periods.

Chainlink is an oracle provider. You can think of oracles as the delivery men of outside information for every blockchain. See, blockchains can’t communicate with systems outside of them – they can’t get real-time information on prices on exchanges, for example. That’s where the oracles come in – they “bring” this information to the blockchain, so that it can operate in real-time and accurately. Every decentralized system needs an oracle and that’s why the bullish case for Chainlink has been so strong and its sentiment so positive throughout multiple market cycles.

Here’s what ChatGPT had to say about it:

Chainlink’s decentralized oracle network is critical for connecting smart contracts to real-world data — and it’s only becoming more important as DeFi, RWAs (real-world assets), and cross-chain solutions grow. LINK has been quietly building partnerships across the crypto space, and many believe it’s undervalued heading into the next cycle.

Injective (INJ): “The DeFi Underdog”

And last but not least, we have INJ.

INJBTC_2025-05-05_13-48-57
Source: TradingView

According to ChatGPT:

Injective has emerged as a powerful decentralized trading platform offering cross-chain derivatives, spot trading, and more. With a focus on scalability and new product launches, INJ has quietly gained a loyal following. Analysts argue that during the next bull run, Injective could surprise the market with significant price action.

As seen in the chart above, INJ had an incredibly strong year in 2024 and it has shown that it is capable of outperforming BTC. This momentum, however, seems far gone and it’s interesting to see of ChatGPT will be correct about this one.

Conclusion

It’s really interesting that ChatGPT doesn’t pick low-cap altcoins to make massive gains in 2025, given that they are typically a lot more volatiley in comparison to their counterparts.

One thing that is clear, though, is that on a long enough time scale, Bitcoin is the undoubted king and everything is trending toward zero against it.

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Saylor’s Strategy Makes Another Bitcoin Acquisition, Bringing Total to 555,450 BTC

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Co-founder and former CEO, Michael Saylor, announced the latest bitcoin acquisition made by the corporate giant, Strategy (formerly MicroStrategy).

The company has spent over $180 million to purchase 1,895 BTC, bringing its total to well over 555,000 BTC.

Saylor hinted at the acquisition on Sunday, posting a chart from the saylortracker website, in which he wrote that there are not enough orange dots (used to showcase the company’s BTC purchases).

The latest buy comes at a more modest $180.3 million, which is a lot less than the previous ones, including last week’s announcement for $1.4 billion.

Nevertheless, Strategy continues with its years-long strategy (no pun intended) to acquire BTC on a frequent basis. It has really ramped up its efforts after the US elections.

Its total stash has surged to 555,450 BTC, bought at an average price of $68,550 per bitcoin. This means that the firm has spent $38.08 billion to acquire it, and its unrealized profit is currently north of $14 billion as BTC stands above $94,000.

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