Ark Invest Rejects Bitcoin Bottom: Cycle Low Needs $50K-$54K Breach

Ark Invest's latest analysis on April 24 declares Bitcoin's cycle bottom unconfirmed, requiring a breach of the $50,000–$54,000 realized price zone amid trading around $55,000–$60,000. The debate ignited on April 22 when Grayscale Research called a durable floor at $65,000–$70,000 after a 20–23% rally from February's $63,000 low to $78,417 highs, backed by $74,000 breakeven for recent buyers, falling exchange reserves to 2.67M BTC, and futures open interest surging 6% to $59.53 billion. Cowen countered on April 23 with an October 2026 trough forecast, while Ark notes long-term holder accumulation up 69% in Q1 2025 but warns historical discounts imply potential drops to $32,000–$43,000.