ARK Invest: Bitcoin’s decline diverges from whale accumulation, signaling a market cycle bottom.
2026.07.17 21:18:01
ARK Invest released its Q2 2026 Bitcoin report, stating that Bitcoin fell approximately 14% in the second quarter, breaking below the short-term holder realized price, 200-day moving average, and on-chain average, with a still bearish technical outlook. However, the proportion of loss-making supply rose to around 54%, and the supply held by long-term holders hit a record high of roughly 14.85 million BTC, which ARK considers a potential signal of seller exhaustion. The report also pointed out that Bitcoin has not yet fallen back to its on-chain cost range of approximately $49,000 to $53,000, meaning downside risks have not been fully released. U.S. spot Bitcoin ETFs recorded a net outflow of around 71,000 BTC in Q2, while Strategy’s STRC preferred shares dropped to a low of $74.57.
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