ARK Released Bitcoin (BTC) Report! Here Are The Last Opinions Of The Giant Company About BTC

According to a report by investment firm ARK, Bitcoin (BTC) saw a surge in interest from long-term coin holders and institutional investors in June.

Analyzing various indicators of Bitcoin's network activity and market dynamics, the report reveals that the BTC supply, which has not moved for at least a year, reached an all-time high of around 70% of the circulating supply in June.

This shows that Bitcoin holders trust BTC's long-term value promise and do not tend to sell even during periods of volatility.

The report also highlights that the Bitcoin balance on over-the-counter (OTC) trading desks, which is an indicator of institutional activity, reached its highest level in a year at the end of June and increased by 60% in a row.

This shows that institutions and other big-capitalists are increasingly focusing on BTC as an alternative asset class and hedge against inflation.

The report also states that the Grayscale Bitcoin Trust (GBTC), the largest publicly traded BTC fund, discounted its BTC net asset value (NAV) to its lowest level in a year in June. This can be attributed to positive developments in the regulatory environment, such as Blackrock's application for a Bitcoin ETF and Grayscale's lawsuit against the SEC.

Finally, in June, Bitcoin price found technical support at its 200-week moving average ($26,200) and short-term cost of ownership ($27,465).

*Not investment advice.