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As the tumultuous month of February unfolded, the bitcoin market experienced dramatic shifts, leading to a resurgence of buying interest among all types of investors. Originally priced at $80,000 at the start of February, bitcoin witnessed a steep decline to $60,000 by February 5. This sharp drop has prompted a notable change in investor behavior, shifting from panic selling to a more coordinated accumulation strategy across various investor categories. Market Dynamics Shift Data from blockchain analytics firm Glassnode reveals a robust trend of accumulation among bitcoin holders following one of the sharpest capitulation events in the cryptocurrency's history. The aggressive selling that characterized the initial days of February is now giving way to a broader re-entry by investors who are starting to view bitcoin as valuable again after a significant price correction. Glassnode's Accumulation Trend Score, which measures the strength of accumulation across different wallet si...

In a bold expression of confidence, Galaxy Digital announced a share repurchase program of up to $200 million after a turbulent week of earnings. This decision, which saw shares of Galaxy Digital (GLXY) soar 18% to $19.90 on Friday, showcases the company's belief in the strength of its balance sheet and the undervalued status of its stock. Share Repurchase Program Explained Galaxy Digital's newly approved program allows the company to buy back its Class A common stock over the next 12 months. The firm plans to execute the buybacks through various methods, including the open market, private negotiations, or structured trading plans under SEC Rule 10b5-1. Notably, the company reserves the right to pause or terminate the program at any time based on market conditions or other influencing factors. Management's announcement reflects their confidence that Galaxy Digital's stock price does not accurately represent the company's inherent value, fueled by excess capital ava...