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Ark Invest made a huge purchase of $16 million in Coinbase on Wednesday, and Cathie Wood stated that a liquidity turning point is approaching.
[Coin World] This Wednesday, the star investment firm Ark Invest made another big move — purchasing shares of Coinbase across three ETFs, with a transaction value of $16.47 million. Meanwhile, they also increased the position of $1.17 million in the Ark-21Shares Bitcoin ETF.
The leader Cathie Wood has signaled externally: the current situation of tight market liquidity may reverse in the coming weeks. What is her reasoning? The Federal Reserve's policy direction may change, coupled with inflation data cooling down.
However, Coinbase's stock price performance is somewhat divided. It closed at $264.97 that day, up 4.27% for the day, which seems quite good. But looking at a longer timeframe, it has already dropped 26.7% in the past month, and this pullback is not small. Are institutions bottom-fishing or betting on a rebound? The market is still watching.