Bitcoin fell ~14% in Q2, closing at ~$58,544 and slipping below all three major moving averages. US spot ETFs added to the pressure with seven straight weeks of outflows, shedding roughly 71,000 BTC. Yet long-term holder supply hit an all-time high of ~14.85 million BTC. ARK's Q2 2026 Bitcoin Quarterly digs into what that means for a key source of marginal demand, plus the on-chain, derivatives, and macro data that shaped the quarter. https://www.ark-invest.com/crypto-reports/bitcoin-quarterly-q2-2026(ARK Invest)