According to Mars Finance, ARK Invest, owned by Cathie Wood, released a monthly report stating that "During August, the price of Bitcoin fell 8.7% to $58,972. At the end of August, Bitcoin failed to break through its 200-day moving average and short-term holders' cost basis, which were $63,693 and $63,245, respectively. Currently, the most important price support levels for Bitcoin are $52,000 and $46,000. The decline in Bitcoin prices in 2024 is consistent with adjustments in the main trends of historical bull markets. As of the end of August, the estimated cost basis of U.S. spot Bitcoin ETF investors was higher than the price of Bitcoin, indicating that ETF holders are facing losses on average.
ARK Invest report: As of the end of August, the cost of US spot Bitcoin ETF investors has exceeded the price of Bitcoin
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