Aave

Galaxy

Bitcoin

<p style="text-align: justify">Considering the ongoing upward trend in the price of <a href="https://en.coin-turk.com/bitcoin-price-continues-to-fall-under-selling-pressure-what-does-the-btc-price-chart-indicate/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/the-convergence-of-bitcoin-and-artificial-intelligence-an-inevitable-meteoric-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>), some investors remain optimistic about the continuation of this rise. Institutions like Galaxy Digital are also investing in this upward trend.</p>
<h2 id="galaxy-digital-s-btc-investment">Galaxy Digital’s BTC Investment</h2>
<p style="text-align: justify">How are short-term and long-term investors performing in the current <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a> with Galaxy’s recent actions? According to Lookonchain’s tweet dated October 28, Galaxy Digital opened a long position in Bitcoin. The tweet also shows that they invested a total of 4,162 BTC in Aave (AAVE) and Compound.</p>
<p style="text-align: justify">Galaxy Digital’s recent move may indicate that the company has invested in Bitcoin due to the increasing price. According to Coinglass data, Bitcoin has maintained a positive funding rate for the past few days. After reaching its highest point in almost five months on October 24, the funding rate decreased.</p>
<p style="text-align: justify">However, it continued to stay above the observed levels in recent months. As of the latest data, the funding rate was approximately 0.015%. Despite long positions in BTC, there have been more liquidations in recent days.</p>
<p style="text-align: justify">The liquidation table showed that long position liquidations exceeded $20 million on October 26, while short position liquidations were slightly above $9 million. Similarly, on October 27, long position liquidations amounted to over $24 million, while short position liquidations were slightly above $5 million.</p>
<p><img decoding="async" class="aligncenter wp-image-271462 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/galaxy.jpg" alt="" width="612" height="447"></p>
<h2 id="btc-price-analysis">BTC Price Analysis</h2>
<p style="text-align: justify">On the daily timeframe chart of Bitcoin, there was a price increase of less than 1% on October 28. This gain came after two consecutive days of noticeable downward trends. However, at the time of this update, Bitcoin was still moving downward with a decrease of less than 1%.</p>
<p style="text-align: justify">It managed to keep its price above $34,000, especially considering the current upward trend. A price correction is likely to occur. When the correction occurs and the price recovers, long position holders can potentially benefit from significant returns.</p> Continue Reading: <a href="https://en.coin-turk.com/galaxy-digitals-bitcoin-investment-and-btc-price-analysis/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/galaxy-digitals-bitcoin-investment-and-btc-price-analysis/</a>

Galaxy Digital’s Bitcoin Investment and BTC Price Analysis

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