Galaxy Digital Shares Rise Thursday as Bitcoin Tops $71K

Galaxy Digital Inc shares traded higher on Thursday as digital asset prices climbed, with Bitcoin trading near $71,471 and Ethereum surpassing $2,268, according to CoinMarketCap data.

The rise in digital assets aligns with broader momentum in cryptocurrency-related stocks.

Additionally, on Wednesday, Citigroup maintained a Neutral rating on Galaxy Digital while lowering its price target to $26 per share.

White House Summit

The industry momentum stems from policy updates at Wednesday's White House summit. At the event, President Trump reiterated his commitment to securing U.S. leadership in cryptocurrency and emerging technologies.

The event included Securities and Exchange Commission Chairman Paul Atkins, Commodity Futures Trading Commission Chairman Michael Selig, and executives from industry firms including Coinbase Global, Robinhood, Ripple, and Kalshi.

At the summit, Trump urged Congress to pass the CLARITY Act to set regulatory standards for digital assets.

Bank Expansion

On the operational front, Leumi Bank announced a partnership with Galaxy Digital on August 14 to provide digital asset trading to its clients.

The agreement makes Leumi Bank the first bank in Israel to offer digital asset trading services, leveraging GalaxyOne institutional edition and Galaxy's custody infrastructure platform. The service is expected to launch in early 2027.

Galaxy Israel CEO Lior Lamesh said: "Leumi is the first bank in Israel to offer digital assets to its clients, and it chose Galaxy to make that happen."

Galaxy Digital Key Levels

From a trend perspective, GLXY is in a "rally within a larger downtrend" pattern: it trades 9.8% above the 20-day simple moving average but remains 7.4% below the 50-day simple moving average, and roughly 9%-10% below the 100-day and 200-day averages. This combination typically signals that short-term strength has not yet turned the medium-term trend bullish.

Momentum is best understood through the relative strength index, which stands at 52.58—neutral, consistent with a stock ranging rather than trending strongly.

The larger long-term caution signal is the death cross that appeared in August, which often leads rallies to be "sold" until price can reclaim key moving averages. Traders will also recall the recent swing high in June and swing low in July as the latest pivot points defining the current range.

Key resistance: $26

Key support: $21

GLXY Price Action: Galaxy Digital shares were up 5.21% to $23.22 at time of publication Thursday.