Galaxy Digital Also Invested in Bitcoin's Uptrend

Considering Bitcoin's ongoing price rise, some investors and institutions are optimistic that the rise will continue. Galaxy Digital is among these institutions. With its latest actions, Galaxy Digital opened a long position in Bitcoin and deposited a total of 4,162 #BTC into #Aave (AAVE) and Compound.

Considering Bitcoin's ongoing price rise, some investors and institutions are optimistic that the rise will continue. Galaxy Digital is among these institutions. With its latest actions, Galaxy Digital opened a long position in #bitcoin and deposited a total of 4,162 BTC into Aave (AAVE) and Compound.

This shows that #GalaxyDigital is investing on the increasing price of Bitcoin. Bitcoin has maintained a positive funding rate over the past few days, with the funding rate falling after hitting an almost five-month high. However, it has continued to remain above this level in recent months.

The last few days have witnessed more liquidations despite investors taking long positions in Bitcoin. Specifically, on October 26, long position liquidations exceeded $20 million and short position liquidations exceeded $9 million.

Bitcoin's price saw an increase of less than 1% on October 28, and this came after two days of downtrend. However, Bitcoin continued its downtrend, falling less than 1%. Bitcoin has managed to keep its price above $34,000 and given the current uptrend, a price correction is likely.
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