2 days ago
Bitcoin (BTC) is “done” with drawdowns of 85% oregon much from all-time highs, says ARK Invest CEO, Cathie Wood.
Key points:
Bitcoin volition not spot different correction of 85% oregon much versus its latest all-time high, Cathie Wood argues.
A caller prediction sees $34,000 becoming the adjacent BTC terms bottom.
Bitcoin bear-market seasonality hints that a reversal could travel this month.
Wood connected BTC price: No much 85% “collapses”
In an interrogation with CNBC’s Squawk Box conception connected April 1, Wood stayed calm astir double-digit BTC terms losses.
“Believe it oregon not, successful the Bitcoin community, down 50% — if that’s arsenic acold arsenic it goes — they’ll see that a existent victory,” she said.
“Because you’re right; the 85-95% collapses associated with a precise caller exertion — that’s done. This is simply a proven technology, it’s a proven monetary strategy and it’s a caller plus class.”Wood, a longtime Bitcoin bull, was speaking arsenic Bitcoin circled its aged $69,000 all-time highs from 2021.
Those preceded a year-long carnivore marketplace successful which BTC/USD mislaid astir 80% earlier bottoming astatine $15,600. That marked the latest specified correction, with carnivore markets typically bringing losses astir the 80% mark.
Data from onchain analytics level Glassnode shows that the existent carnivore marketplace has yet to lucifer humanities patterns with maximum downside versus Bitcoin’s $126,200 grounds from October 2025 astatine 52%.
BTC terms drawdowns from all-time highs. Source: Glassnode
Responding to Wood, expert Tony Severino predicted that 2026 would bring a terms bottommost adjacent to a 72% drawdown.
“Correct, -72% max drawdown adjacent =$34,000,” helium wrote connected X.
That fig exceeds commonly held predictions by traders for wherever Bitcoin’s adjacent generational level volition be. As Cointelegraph reported, statement favors the country betwixt $40,000 and $50,000.
This week, however, Bloomberg Intelligence expert Mike McGlone warned that terms whitethorn already beryllium trending toward seven-year lows.
Bitcoin historically rebounds successful April
Continuing the bear-market comparison, information from web economist Timothy Peterson revealed that April could people immoderate signifier of inflection constituent for price.
Related: Bitcoin risks caller lows arsenic US dollar targets highest level since April 2025
A illustration uploaded to X this week shows April typically being a betterment period during bearish phases.
Bitcoin bear-market terms comparison. Source: Timothy Peterson/X
The March monthly close, meanwhile, ended a five-month losing streak for BTC/USD with humble gains of 1.8%.
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