Bitcoin Faces Second Red October Despite Galaxy's Bullish Outlook
Bitcoin is on track for another negative October, but Galaxy Digital believes the bear market has ended.
Bitcoin is on track for another negative October, but Galaxy Digital believes the bear market has ended. Bitcoin (BTC) is trading at $79,704.00. This is an original TLT brief based on reporting by CryptoNews, with live market data added, as of Tue, 27 Oct 2026 09:00:04 UTC.
The potential for a second consecutive negative October raises concerns about Bitcoin's seasonal trends, while Galaxy's contrarian stance could influence investor sentiment.
- Bitcoin is down 2.49% over the past week, continuing a potential second red October.
- Galaxy Digital claims the bear market is over, citing Bitcoin's 50-week moving average support.
- Bitcoin's current price of $37,959 reflects a neutral market sentiment with a Fear & Greed index of 48.
- Crypto Market Faces Downward Pressure on October 24
- Bitcoin Faces Second Red October Despite Galaxy's Bullish Outlook — this brief
Bitcoin is on track for a second consecutive negative October, a trend that has raised concerns among investors about the cryptocurrency's seasonal performance. This potential downturn comes despite recent market resilience and a relatively neutral sentiment as indicated by the Fear & Greed index.
In contrast, Galaxy Digital has taken a bullish stance, asserting that the bear market has ended. The firm cites Bitcoin's ability to hold above its 50-week moving average as a key technical indicator supporting their outlook. This perspective suggests that the market may have already found a bottom and is poised for recovery.
Galaxy TVL has seen a 4.9% increase over the past week, reaching $131.39 million, according to DeFiLlama. This growth in Galaxy's total value locked could be seen as a positive signal, indicating increased activity and interest in the platform.
The broader cryptocurrency market remains relatively flat, with a total market cap of $2.74 trillion. Bitcoin's current price of $37,959 reflects a 0.06% decline over the past 24 hours and a 2.49% drop over the past week. These figures highlight the ongoing volatility and uncertainty in the market.
The Fear & Greed index stands at 48, indicating a neutral market sentiment. This suggests that investors are cautiously optimistic but remain wary of potential downturns.
Since this brief published about 1 hour ago, Bitcoin (BTC) has moved from $79,759.00 to $79,704.00 — -0.07%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin reach $87,500 in October?
Crowd-implied probability on Polymarket, $71.36K 24h volume, resolves Nov 1 — snapshotted when this brief published (Oct 27 08:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by TLT and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₦110.34M (about $79,704.00), down 0.6% over 24 hours. The naira itself trades about 1.8% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 27, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Bitcoin Faces Second Red October Despite Galaxy's Bullis — questions & answers
What is the significance of a second red October for Bitcoin?
A second red October could reinforce concerns about Bitcoin's seasonal trends and potentially impact investor confidence.
Why does Galaxy Digital believe the bear market is over?
Galaxy Digital cites Bitcoin's 50-week moving average support as evidence that the bear market has ended.
How has Galaxy's TVL performed recently?
Galaxy's TVL has increased by 4.9% over the past week, reaching $131.39 million.
How much is 1 Bitcoin worth in naira today?
About ₦110.34M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $79,704.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.07% since this brief first published — trading at $79,704.00 now versus $79,759.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoNews. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.