Mike Novogratz 2.9 1 idea

Calls the current downturn "more distressing than the last bear market" because "this time there's no smoking gun." When industry veterans cannot identify the specific cause of a 15-30% drawdown (unlike the clear leverage flush of Luna/FTX), it suggests structural weakness or hidden liquidity exits. This uncertainty warrants caution on crypto-native proxies like Galaxy Digital until a floor is found. WATCH (Wait for market clarity). Missing the bottom if this is a "buy the fear" moment.