ARK Invest: 14% drop in bitcoin Q2 touches the cyclical pressure level, but long-term holders reverse ingestion

ARK Invest issued a Bitcoin report for the second quarter of 2026, which noted a decline of about 14 per cent in Bitcoin in the second quarter, but despite price pressures, the long-term hold of Bitcoin (Long-term Holders) continued to grow, with its holding up to an all-time high of approximately 1.48 million BTCs, absorbing the leverage released during market recall. ARK Invest states that the chain data is releasing a sign of seller fatigue: BTC supply in a loss situation exceeds the profit supply, while the rate of loss was once faster than the rate of profit, a phenomenon that has historically tended to be concentrated near the bottom of the market cycle. In addition, institutional demand in the Bitcoin market is under pressure. There are signs of weakness in the company ' s Bitcoin reserves and ETF ecology, and the outflow of ETF funds shows that important marginal buys of Bitcoin are weakening, but the continued accumulation of long-term holders indicates that leverage is being redistributed within the market。