ARK Invest: BTC Decline Diverges from Whale Accumulation, Cycle Bottom Signal Emerges in the Market
According to Odaily, ARK Invest has released its Q2 2026 report "The Bitcoin Quarterly", indicating that Bitcoin fell approximately 14% during the second quarter, closing at around $58,544, and broke below three major technical moving averages—a technical pattern historically associated with bearish market conditions. The report reveals that despite downward price pressure, Bitcoin long-term holders continue to accumulate, with their holdings reaching a record high of about 14.85 million BTC, absorbing coins released during the market correction.
ARK Invest stated that on-chain data is showing signs of seller exhaustion: the supply of BTC in a loss exceeds the supply in profit, and the speed of losses at one point outpaced gains—a phenomenon that has historically appeared near market cycle bottoms.
The report also notes that institutional demand in the Bitcoin market is under pressure. Both Treasury Company Bitcoin reserves and the ETF ecosystem show signs of weakness:
STRC preferred share prices fell to around $74.57, below the $100 face value;
US spot Bitcoin ETFs have seen outflows for seven consecutive weeks, with a cumulative outflow of around 70,000 BTC.
ARK Invest believes that ETF outflows show important marginal buying pressure for Bitcoin is weakening, but continued accumulation by long-term holders suggests an internal redistribution of coins within the market.
The firm states that there is now a clear divergence between BTC price action and long-term holder behavior. Historical data suggests that such divergences often serve as important signals of market cycle turning points.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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