While Bitcoin (BTC) holds the crucial $65,000 to $66,000 range, Cathie Wood, CEO and CIO of Ark Invest, discussed the current downturn of the flagship crypto and confirmed that the era of severe pullbacks is over.
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50% Bitcoin correction could be a ‘real win’
In a recent interview on CNBC’s Squawk Box, Cathie Wood, CEO of Ark Invest confirmed that Bitcoin has matured in recent years, citing wider adoption and growing institutional demand for the flagship crypto.
Wood said Bitcoin is a “proven technology” and a “proven monetary system,” adding that the industry is “now seeing the industrialization of this new asset class that has had very low correlation with other asset classes.” Therefore, “the 85%, 95% collapse associated with a very new technology, that’s done.”
For the CEO, the ongoing market correction, which has reduced Bitcoin’s value by almost half from its October peak, could be seen as a “real win” rather than a sign of weakness for the Bitcoin community, as it would represent a significant decline from the historic crashes during previous bear markets.
Last year, Wood lowered her 2030 Bitcoin forecast from $1.5 million to $1.2 million. However, she has reiterated her view that Bitcoin will serve as a store of value and global settlement system.
She previously claimed that increasing institutional adoption will be a powerful driver of the long-term value of the flagship crypto, adding that this has only just begun. “Institutions have really only just dipped their toes into this space. We’ve only just started, so we still have a long way to go,” she stated.
Analysts say the BTC bottom is much lower
Despite Wood’s outlook, other market analysts have predicted much lower targets for BTC’s bottom. Recently, Bloomberg senior strategist Mike McGlone suggested that a “bursting crypto bubble” scenario is looming for the leading cryptocurrency.
As reported by NewsBTC, McGlone confirmed that Bitcoin could fall to $10,000 this year, noting that this level was a common trading price before 2020-2021 and “the firstborn crypto’s most traded price since 2017.”
Market watcher Crypto Jelle recently pointed out that cryptocurrency bear market lows have historically formed below the Fibonacci 0.618 retracement levels, which could put BTC’s bottom below the $57,000 area.
Meanwhile, analyst Ali Martinez said BTC’s final correction before the next bull run could send the price down 40%-50% towards $30,000-$40,000 based on its historical performance.
The analyst explained that the crossover between BTC’s 50 and 200 Simple Moving Averages (SMAs) has historically marked the bottom of every major cycle over the past twelve years.
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As he detailed, the crossover consistently marked the beginning of the final leg before the next bull market, with the price dropping another 50% when the 50 and 200 SMAs crossed in previous cycles.
Notably, Bitcoin has seen a 52% correction from its October 2025 peak, and the SMAs crossed the line on February 27, which could indicate another major correction is on the way, if history repeats itself.
Featured image from Unsplash.com, chart from TradingView.com