The cryptocurrency market is witnessing a period of consolidation, as corporate entities shift their focus towards accumulating alternative cryptocurrencies (altcoins). Mike Novogratz, CEO of Galaxy Digital, highlights this trend on CNBC Squawk Box, suggesting that Bitcoin’s current price range reflects the exploration and investment opportunities offered by other crypto projects. He notes examples like BitMine Immersion Technologies, a blockchain tech firm, which has significantly increased its Ether holdings following a recent $200 million purchase, reaching over $9 billion in value. 1.65 billion in cash and stablecoin commitments were acquired by Forward Industries to implement a Solana (SOL)-focused crypto treasury strategy, further demonstrating this shift.