- ARK Invest demonstrated its continued confidence in Bitcoin by acquiring 997 BTC, valued at $80 million, through Coinbase.
- The firm also purchased 64,358 Coinbase shares for approximately $11.53 million on March 12—the largest acquisition of its kind since August 2024.
- BTC’s price fluctuated between $78,000 and $84,200, facing resistance near $84,000 and support around $80,500.
ARK Invest, the Florida-based asset management firm, has deepened its commitment to Bitcoin with an $80 million acquisition from Coinbase. According to Arkham Intelligence, it bought 997 BTC on March 13, 2025, in two separate transactions. The first purchase included 498 BTC, while the second, completed just four hours later, added another 499 BTC.
Its move indicates belief in Bitcoin despite recent market volatility. Cathie Wood, the company’s CEO, has repeatedly conveyed a high level of confidence in Bitcoin’s potential. Her past predictions have suggested that its price could soar to $1 million by 2030.
In addition to its Bitcoin acquisition, ARK Invest increased its holdings in Coinbase (COIN) stock, securing 64,358 shares worth around $11.53 million on March 12. This stands as ARK’s most significant Coinbase investment since August 2024.
Bitcoin’s Market Behavior After ARK’s Purchase
Bitcoin’s price remained steady above $78,000 before climbing past $80,500. Bulls pushed it beyond the $82,000 resistance, but sellers near $84,000 capped further gains. A high of $84,200 was recorded before a slight correction.
It slipped below $83,000 and even breached the 50% Fibonacci retracement level calculated from its upward trajectory between $76,818 and $84,200. Moreover, it slipped below a short-term bullish trend line. At present, BTC remains above $81,200, maintaining stability while staying positioned above its 100-hourly simple moving average.
Bitcoin encounters resistance at $82,450 in the short term. Should it surpass $84,000, the price might set its sights on the $85,000 range. A firm close beyond this threshold could drive it toward $86,500, with the possibility of further gains extending to $88,000, and in a broader outlook, even as high as $96,200.
Downside Risks and Support Levels to Watch
If the cryptocurrency fails to break past the $82,450 resistance level, a decline may occur. The first support level emerges around $80,500, whereas stronger support aligns near $79,600, corresponding with the 61.8% Fibonacci retracement level.
If it continues to decline, its value may drop toward $78,500, while in a more severe downturn, it could potentially test the $77,000 level. A key support lies at $76,500, a crucial threshold that may influence the forthcoming price movement.
The hourly MACD reflects a bullish trend, while BTC/USD’s RSI stays above 50, indicating an upward market inclination. Despite this, volatility persists as a key factor, with sudden price fluctuations likely in the short term.
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