Ark Invest bought the dip hard. On Tuesday, the investment firm added to its positions in five crypto-exposed companies: Coinbase, Block Inc., Bullish, Circle, and Bitmine, according to its daily trading disclosures. The purchases came as the stocks declined alongside a broader digital asset selloff.
Targeting Infrastructure and Treasury Plays
The batch includes a mix of exchange operators (Coinbase, Bullish), a stablecoin issuer (Circle), a payments firm with Bitcoin exposure (Block), and a corporate Ethereum treasury holder (Bitmine). Ark's CEO Cathie Wood has long advocated for crypto as a disruptive asset class, and the latest buys signal she sees the recent price slide as an opportunity rather than a reason to flee.
Technical Breakdown: BTC and ETH Below Key Levels
Bitcoin (BTC) was trading below its 200-day simple moving average (SMA) and had also slipped under the 100-week moving average—a level that historically marks deep corrections. Ether (ETH) similarly languished under its 200-day SMA, far from its all-time high. The Crypto Fear & Greed Index flashed “extreme fear” territory, reflecting pervasive caution.
Despite the grim chart, Wood highlighted gold’s recent rally as a possible leading indicator for Bitcoin. “Gold has preceded major Bitcoin gains in prior cycles despite low long-term correlation,” she stated, citing data from Truflation that shows consumer price inflation trending below recent historical levels—potentially paving the way for renewed risk appetite.
Bitwise CIO Calls It an ‘Extended Bear Market’
Matt Hougan, Chief Investment Officer at Bitwise, described the current environment as an extended bear phase that started in early 2025, driven by high leverage and profit-taking. He acknowledged weak sentiment but maintained that the long-term thesis remains intact��a view Ark’s trading activity seems to echo.
At press time, BTC hovered around $58,000, down more than 30% from its peak. Whether Ark’s bold dip-buying will prove prescient is unknown, but the firm has put its money where its conviction is.