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Cathie Wood Predicts Bitcoin's Era of 85% Crashes is Over

Apr 03, 2026 11:28 UTC
BTC-USD
Medium term

ARK Invest CEO Cathie Wood claims Bitcoin has outgrown its history of steep drawdowns, forecasting a new $34K price bottom. The bullish outlook contrasts with ongoing market volatility.

  • Cathie Wood claims Bitcoin will no longer experience 85%+ drawdowns from all-time highs
  • Wood’s bullish stance contrasts with Bitcoin’s recent double-digit price declines
  • On-chain data shows current bear market at 52% drawdown from $126,200 high
  • Analyst Tony Severino predicts 72% drawdown by 2026, targeting $34,000 as new bottom
  • Bloomberg’s Mike McGlone warns of potential seven-year lows in Bitcoin price
  • April historically marks recovery in bear markets, with March ending a five-month BTC losing streak

ARK Invest CEO Cathie Wood has asserted that Bitcoin's history of 85% or greater drawdowns from all-time highs is behind it, signaling a shift in the cryptocurrency's maturity as an asset. Speaking to CNBC’s Squawk Box on April 1, Wood remained composed despite Bitcoin’s recent double-digit price declines, noting that even a 50% correction would be seen as a success by the Bitcoin community. Bitcoin, currently hovering near its 2021 all-time high of $69,000, previously endured an 80% bear market loss before bottoming at $15,600. On-chain analytics from Glassnode indicate the current bear market has only reached a 52% drawdown from Bitcoin’s October 2025 record high of $126,200. Analyst Tony Severino echoed Wood’s sentiment, projecting a 72% maximum drawdown by 2026, which would set a new price bottom at $34,000. This forecast surpasses the $40,000 to $50,000 range commonly anticipated by traders. Meanwhile, Bloomberg Intelligence analyst Mike McGlone has warned of potential seven-year lows in Bitcoin’s price. Network economist Timothy Peterson highlighted April as a potential inflection point, citing historical data showing the month often marks a recovery during bearish phases. The March monthly close ended a five-month losing streak for BTC/USD with a modest 1.8% gain.

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