Bitcoin Falls 14% in Q2 2026; Long-Term Holders Accumulate to Record 14.85M BTC

According to ARK Invest's Q2 2026 Bitcoin report released on July 18, bitcoin declined approximately 14% during the second quarter. Despite price pressure, long-term holders (LTH) continued accumulating, raising their holdings to a record high of approximately 14.85 million BTC, absorbing tokens released during the market downturn.

On-chain data signals seller exhaustion: the volume of BTC in loss exceeds that in profit, with loss-generating speed at times surpassing profit-generating speed—a pattern historically concentrated near market cycle bottoms. While institutional demand faces headwinds with ETF outflows indicating weakening marginal buying pressure, LTH accumulation suggests active portfolio rebalancing within the market.