ARK Invest Expands Coinbase Holdings by $9.4 Million Amid Market Dip
- Coinbase Share Acquisition: Amid a 1.24% market dip, ARK Invest acquired 38,854 shares of Coinbase for a total of $9.4 million, demonstrating ongoing confidence in the cryptocurrency market.
- Investments in Circle and Bullish: In addition to Coinbase, ARK purchased 129,446 shares of Circle valued at $9.2 million and 88,533 shares of Bullish for $3.2 million, indicating a strategic diversification in crypto assets.
- Meta Share Divestment: ARK also sold 12,400 shares of Meta worth approximately $8.03 million, showcasing its ability to adjust its portfolio flexibly amid market volatility.
- Long-Term Crypto Market Outlook: ARK maintains a bullish long-term outlook for the crypto market, predicting it could reach $28 trillion by 2030, driven by Bitcoin gains, which reinforces its investment strategy in the crypto space.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36028.802 | 48014.401 | 60298.822 | 72284.421 | 84568.842 | 96554.441 | 108838.862 |
| Fibonacci | 48014.401 | 57285.549 | 63013.273 | 72284.421 | 81555.569 | 87283.293 | 96554.441 |
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