Key Takeaways from the Report

• June witnessed a 2.55% increase in Bitcoin’s price, yet it fell short of surpassing May’s high of $112,000.
• Currently, long-term holders own 74% of Bitcoin’s total supply, a milestone not reached in 15 years, reflecting strong investor confidence as the number of new buyers dwindles.
• The appreciation of the U.S. dollar challenges previous assumptions of dollar debasement, influencing market sentiment in the crypto space.

The report elaborates that while Bitcoin’s growth remains constrained, further analysis reveals an uptick in long-term holders, affirming a solid commitment from seasoned investors. Alongside this, the report notes a reduction in new investor activity, which indicates a shift in dynamics within the market.

ARK Invest’s Cathie Woods

“Long-term holders are demonstrating significant conviction amid changing market conditions.”