ARK Invest: Bitcoin’s on-chain strength sets the stage for a Q4 rally

In its latest "Bitcoin Quarterly" report, Cathie Wood's ARK Invest noted that Bitcoin's core fundamentals remain solid, with network activity, profitability, and supply distribution indicating strong underlying demand and no signs of selling by long-term holders. On-chain positioning is bullish, with most tokens profitable and held by investors with low spending tendencies, providing favorable support for prices in the fourth quarter. Mid-sized investors continue to increase their holdings, while large holders are selling at a slower pace, indicating a healthier upward trend.