The Bitcoin Monthly, an “earnings report” authored by ARK Invest, that details relevant on-chain activity and showcases the openness, transparency, and accessibility of blockchain data.
- Bitcoin closed the month of June down nearly 40%, declining from $31,780 to $19,980.
- Contagion in the crypto markets continued as Celsius and Three Arrows Capital came undone.
- Market contagion sends bitcoin into capitulation.
- Despite record-high realized losses, unrealized losses could allow further downside.
- Uncertain macro conditions are weighing on bitcoin’s recovery and outlook.