ARK Invest: In April, Bitcoin outperformed the S&P 500, although the price experienced a pullback, it still remains in a bull run range.

Odaily News ARK Investment Management released the Bitcoin reading report for April 2025, which indicates that the economic outlook signals from inflation, market sentiment, and tax data are mixed, but the data shows that the Bitcoin price rose about 14% in April, outperforming the S&P 500 index. In addition, the report mentions that the current price correction of Bitcoin has not exceeded 30%, technically still within a bull market range. If it drops 30%, 50%, and 70% from the historical high, the corresponding price levels would be approximately $74,311, $53,080, and $31,848, respectively. Moreover, the number of unrecognized 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, and ARK holds a “bullish” view on this. The report also mentions that the current profit supply ratio of Bitcoin has not exceeded 68%, far below the historical peak of over 80%, suggesting that the market has not shown signs of irrational exuberance. Overall, on-chain data reflects that the market is in a healthy consolidation phase. (ARK Invest)