Bitcoin Frenzy Continues to Heat Up, But Cathie Wood's ARK Invest Goes Against the Trend by Reducing Holdings!
ARK Invest has been selling Bitcoin frequently this April. This may suggest they have a bearish outlook on Bitcoin's future.
On April 28, ARK Invest sold 1,105,059 shares of the ARK 21Shares Bitcoin (BTC) ETF (ARKB), valued at about $10.5 million. This marks the third time ARK has sold Bitcoin this month, following previous sales on April 7 and April 17.
On April 9, Bitcoin plummeted to around $7.46 due to tariffs announced by Trump, hitting its lowest point since he took office. Later that day, Trump announced a 90-day delay on the tariffs, causing Bitcoin to surge. It has since rebounded to around $95,000.
Bitcoin price trend chart, source: TradingView.
Market sentiment remains bullish on Bitcoin. Data from platforms like Bitfinex Alpha and Glassnode indicate a healthy upward trend.
Geoffrey Kendrick, head of global digital asset research at Standard Chartered, predicts Bitcoin could reach about $120,000 by Q2 2025 and $200,000 by the end of the year. Peter Chung, head of research at quant trading firm Presto, also forecasts Bitcoin hitting $210,000 by the end of 2025.
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