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The female stock god's Ark has been buying up encryption stocks again. After the U.S. stock market closed on Wednesday, three ETFs collectively purchased shares in Circle, Bullish, and BitMine, and the amounts were not small—Circle bought $17.7 million (216,000 shares), Bullish invested $16.9 million (464,000 shares), and BitMine also splashed $7.6 million in (260,000 shares).
However, the market performance is a bit awkward. On that day, Circle's stock price plummeted nearly 9%, closing at $69.72; Bullish couldn't hold up either, dropping 3.63%, closing at $36.39; BitMine also didn't escape the decline. Whether Ark's operation this time is bottom fishing or taking over, we probably need to see the subsequent trend to know. This kind of counter-trend increase in positions either indicates confidence in long-term value or is the classic strategy of 'buying more as prices fall' is fermenting.