Bitcoin is currently trading at around $73,000, and it is unlikely to fall below $50,000 unless a significant event occurs, according to billionaire Mike Novogratz, founder and CEO of Galaxy Digital.

Bitcoin has been rallying mainly due to continuous inflows into recently approved spot bitcoin exchange-traded funds in the U.S. and, as long as net inflows are positive, the bitcoin price will keep going higher, Novogratz told CNBC in an interview Wednesday.

"Once that becomes negative, you'll see the first real correction," Novogratz said. "Things are frothy, funding rates are high, and so in times like this, you always have to be ready for a correction. I don't think we go back below $50,000-$55,000. I think that's the new floor unless something dramatic happens," Novogratz added.

There …