bullish

Galaxy

Bitcoin

Arkham

Bitcoin Galaxy

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/galaxy-digital-acquires-more-bitcoin" data-wpel-link="internal">Galaxy Digital Acquires More Bitcoin</a><br></p>
<p style="text-align: justify">Galaxy Digital has expanded its Bitcoin holdings with a recent purchase of 380 BTC on August 21, following a 600 BTC acquisition the previous day. According to Arkham Intelligence, these purchases, linked to the wallet address 12QVsf, amounted to around $59 million. The transactions were associated with <a href="https://en.bitcoinhaber.net/binance-faces-uncertainty-in-obtaining-crypto-license-in-hong-kong" data-wpel-link="internal">Binance</a>, a well-known cryptocurrency exchange.</p> 
<h2 id="significant-investments-in-bitcoin">Significant Investments in Bitcoin</h2> 
<p style="text-align: justify">Arkham Intelligence data reveal that Galaxy Digital, under the leadership of Mike Novogratz, has recently increased its Bitcoin holdings, indicating a bullish outlook on Bitcoin’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">future</a> value. On August 20, the firm purchased 600 BTC and added another 380 BTC on August 21, suggesting a strategic investment.</p> 
<p style="text-align: justify">Additionally, this activity follows a notable 400 BTC purchase earlier linked to a $23 million investment by Galaxy Digital. Novogratz’s firm appears to be positioning itself for future <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market conditions</a>, having acquired a total of 1,380 BTC worth $82.8 million within just a few days.</p> 
<h2 id="what-is-bitcoin-s-current-price">What is Bitcoin’s Current Price?</h2> 
<p style="text-align: justify">Despite these significant acquisitions, Bitcoin’s market price has struggled to stay above the $60,000 mark. Since early August, Bitcoin has been fluctuating between $50,000 and $60,000, with the $60,000 level acting as resistance rather than support. This volatility has raised concerns among investors.</p> 
<p style="text-align: justify">Market analysts remain optimistic, however, pointing to macroeconomic indicators. For example, K33 Research has highlighted the potential for a short squeeze due to negative perpetual funding rates, which could trigger a substantial price increase for Bitcoin.</p> 
<h2 id="market-implications">Market Implications</h2> 
<p style="text-align: justify">– Galaxy Digital’s increasing BTC investments indicate strong confidence in Bitcoin’s future.</p> 
<p style="text-align: justify">– Recent transactions suggest strategic positioning ahead of potential market shifts.</p> 
<p style="text-align: justify">– Current price fluctuations between $50,000 and $60,000 highlight market resistance.</p> 
<p style="text-align: justify">– Analysts predict possible price rallies driven by short squeeze scenarios.</p> 
<p style="text-align: justify">As of now, Bitcoin’s price has dropped to $59,332, reflecting a 2.51% decline over the last 24 hours, with no price change observed in the past hour. Over the last seven days, the value has decreased by 2.74%, underscoring the recent volatility in the cryptocurrency market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/galaxy-digital-acquires-more-bitcoin" data-wpel-link="internal">Galaxy Digital Acquires More Bitcoin</a></h5>

Galaxy Digital Acquires More Bitcoin

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