ARK Invest, led by Cathie Wood, has begun selling Coinbase (COIN) shares. On Thursday, it sold 119.236 COIN shares for approximately 17.4 million dollars. This transaction occurred according to a trade notification seen by Cointelegraph and marks the first COIN sale in 2026 and the first since August 2025. The sale came alongside COIN shares falling 13% to multi-month lows. COIN has lost 37% year-to-date.
An excerpt from ARK’s trade notification for Thursday. Source: ARK
Coinbase shares have slumped around 37% year-to-date. Source: TradingView
ARK Invest Invested $17.8 Million in Bullish (BLSH) Shares
ARK allocated a large portion of the proceeds from the sale to Bullish (BLSH) shares, purchasing 716.030 shares for 17.8 million dollars. Bullish shares, listed on the NYSE in August 2025, have fallen 60% from their trading debut to 24.9 dollars. ARK continues to hold COIN shares worth a total of 312 million dollars in its ARKK, ARKW, and ARKF funds.
Bitcoin Falls Below $70,000 for the First Time Since November 6, 2024
This development coincides with the Bitcoin (BTC) price dropping below 70.000 dollars, briefly touching 60.000 dollars on Friday. BTC fell below 70.000 dollars for the first time since November 6, 2024. Its current price is at 66.269,40 dollars, down 4,70% in the last 24 hours. RSI at 24,74 is in oversold territory, with the overall trend bearish.
MicroStrategy CEO Phong Issues BTC Price Warning
MicroStrategy CEO Phong Le stated that prices below the BTC average of 76.000 dollars make debt payments difficult. In the worst-case scenario, a BTC price of 8.000 dollars could increase the debt burden. ARK’s move reflects a strategic shift under market pressure. Click here for detailed BTC analysis.
BTC Technical Support and Resistance Levels
- Supports: S1: 65.881 dollars (Strong, %73 score), S2: 60.000 dollars (Strong, %65 score).
- Resistances: R1: 68.926 dollars (Strong, %70 score), R2: 72.176 dollars (Strong, %68 score).
- EMA 20: 80.707 dollars, Supertrend: Bearish.
These levels are critical for potential recovery or deeper decline. BTC futures details here. Market volatility is high, investors should be cautious.
Source: https://en.coinotag.com/ark-invest-sells-coin-and-turns-bullish
