GLXY Stock Continues to Decline, Yet CEO Mike Novogratz Compares Bitcoin's Bottom to Porn: 'You Recognize It When It Happens'

Company Performance: Galaxy Digital reported a higher loss per share and revenue below expectations for its fourth-quarter results, leading to a 16.87% drop in shares, marking the steepest decline in nearly 20 months.

Earnings Miss: The company posted a loss of $1.08 per share compared to the anticipated loss of $0.92, with revenue at $10.26 billion, significantly lower than the expected $12.14 billion.

Market Sentiment: Retail sentiment around Galaxy Digital shifted from 'bearish' to 'neutral', with a notable increase in message volume, indicating heightened investor interest.

Bitcoin Market Dynamics: CEO Mike Novogratz highlighted that recent weaknesses in the crypto market, particularly Bitcoin's price, are due to investors taking profits, suggesting that Bitcoin is closer to its bottom than during previous bear market phases.