Bitcoin's Cycle Bottom Remains Unformed, Says Ark Invest

Ark Invest has indicated that Bitcoin has not yet established a cycle bottom, highlighting a crucial price range between $54,000 and $50,000. According to NS3.AI, Ark Invest noted that long-term holder balances increased by 69% in the first quarter, rising from 2.13 million BTC to 3.60 million BTC. This trend suggests that these investors absorbed supply during the recent market correction.