Mike Novogratz Rejects Bearish ETH Calls, Predicts $4,000 by Year-End

Crypto billionaire and Galaxy Digital CEO Mike Novogratz has pushed back against bearish Ethereum sentiment, forecasting a potential breakout toward $4,000 by the end of 2025.

Responding to technical traders labeling Ethereum’s price action as a “quadruple top,” Novogratz dismissed the pattern as overly pessimistic. “I’ve been trading a long time and haven’t heard the ‘quadruple top’ formation as bearish,” he wrote in an August 1 post on X. “Usually we correct some and then take out the top for the next leg up.”

Ethereum recently tested the $3,900–$4,000 resistance for a fourth time, sparking debate about whether the level has become a hard ceiling—or a springboard. While some traders, including @PhilakoneCrypto, argued that ETH has formed a quadruple top that signals a broader downturn, Novogratz sees it differently.

He noted that Ethereum is likely to continue ranging between $3,000 and $4,000 in the short term. However, he emphasized that his instinct favors a breakout to the upside: “It will be $4K that goes by the end of the year. Not $3K.”

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The ETH/USDT 4-day chart supports this cautious optimism. After rebounding sharply from sub-$2,000 levels in June, Ethereum surged to retest resistance near $3,911. Though currently pulling back to the $3,600s, the asset maintains its bullish structure, especially if it holds support above $3,200.

Novogratz’s stance aligns with a broader trend among institutional investors who remain confident in Ethereum’s utility-driven growth. As EVM adoption rises, L2 scaling matures, and potential ETF approval looms, analysts are increasingly framing Ethereum’s current consolidation as accumulation—not distribution.

Whether ETH breaks above $4K this year remains to be seen, but Novogratz’s bullish call reflects growing conviction that Ethereum is setting up for a fresh leg higher.