According to Mars Finance, Cathie Wood's ARK Invest released a monthly report stating that "Bitcoin's price fell by 8.7% in August, reaching $58,972. At the end of August, Bitcoin failed to break through its 200-day moving average and the short-term holder cost basis, which were $63,693 and $63,245 respectively. Currently, the most important price support levels for Bitcoin are $52,000 and $46,000. Bitcoin's price drop in 2024 is consistent with adjustments in the main trends of historical bull markets. As of the end of August, the estimated cost basis of US spot Bitcoin ETF investors was higher than Bitcoin's price, indicating that ETF holders are facing average losses."