Cathie Wood Predicts End to Large Drawdowns for Bitcoin

Cathie Wood, CEO of ARK Invest, has expressed her belief that Bitcoin is done with drawdowns of 85% or more from its all-time highs. This prediction comes as the cryptocurrency circles its old $69,000 all-time high from 2021.

Data from Glassnode shows that the current bear market has not yet matched historical patterns, with a maximum downside versus Bitcoin's record high of 52%. This has led to some analysts predicting a price bottom at $34,000, exceeding commonly held predictions by traders.