ARK Invest report: As of the end of August, the cost for U.S. spot Bitcoin ETF investors has exceeded the price of Bitcoin
ChainCatcher news, ARK Invest, led by Cathie Wood, released a monthly report stating, "In August, the price of Bitcoin fell by 8.7%, dropping to $58,972. By the end of August, Bitcoin failed to break through its 200-day moving average and the cost basis for short-term holders, which are $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 for U.S. spot Bitcoin ETF investors has risen above the price of Bitcoin, indicating that ETF holders are facing an average loss.