ARK Invest: In April, BTC Outperformed the S&P 500, Price Retracted but Rebounded Quickly

ARK Investment Management released a Bitcoin reading report for April 2025, which noted that inflation, market sentiment, and tariffs send mixed signals about the economic outlook. However, data shows that Bitcoin prices rose by about 14% in April, outperforming the S&P 500 index, and quickly rebounded from market panic triggered by tariffs.

The report also mentioned that the current price correction of Bitcoin has not exceeded 30%, technically remaining in a bull market range. If it falls 30%, 50%, and 70% from the historical high, the corresponding price levels would be approximately $74,311, $53,080, and $31,848, respectively.

Additionally, the number of unrealized loss Bitcoins held by long-term holders (LTH) is close to 3.5 million, the highest level since 2018, indicating that the market may be in an oversold state, with ARK holding a "bullish" view on this. The report also mentioned that the current profitable supply ratio of Bitcoin has not exceeded 68%, far below the level of over 80% at historical peaks, indicating no signs of irrational exuberance in the market. Overall, on-chain data reflects that the market is in a healthy consolidation phase.