Bitcoin Frenzy Continues to Heat Up, But Cathie Wood's ARK Invest Goes Against the Trend by Reducing Holdings!
TradingKey - 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, with 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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