Written by William Suberg, Staff WriterReviewed by Allen Scott, Staff EditorBitcoin ‘done’ with 85% crashes, says Cathie Wood amid new $34K target4 hours agoARK Invest CEO Cathie Wood said that Bitcoin as a “proven” asset would no longer experience drawdowns of 85% or more from all-time highs. Listen0: 00 Cointelegraph in your social feed Bitcoin (BTC) is “done” with drawdowns of 85% or more from all-time highs, says ARK Invest CEO, Cathie Wood. Key points: Bitcoin will not see another correction of 85% or more versus its latest all-time high, Cathie Wood argues. A new prediction sees $34,000 becoming the next BTC price bottom. Bitcoin bear-market seasonality hints that a reversal could come this month. Wood on BTC price: No more 85% “collapses”In an interview with CNBC’s Squawk Box segment on April 1, Wood stayed calm about double-digit BTC price losses. “Believe it or not, in the Bitcoin community, down 50% — if that’s as far as it goes — they’ll consider that a real victory, ” she said. “Because you’re right; the 85-95% collapses associated with a very new technology — that’s done. This is a proven technology, it’s a proven monetary system and it’s a new asset class. ”Wood, a longtime Bitcoin bull, was speaking as Bitcoin circled its old $69,000 all-time highs from 2021. Those preceded a year-long bear market in which BTC/USD lost nearly 80% before bottoming at $15,600. That marked the latest such correction, with bear markets typically bringing losses around the 80% mark. Data from onchain analytics platform Glassnode shows that the current bear market has yet to match historical patterns with maximum downside versus Bitcoin’s $126,200 record from October 2025 at 52%. Responding to Wood, analyst Tony Severino predicted that 2026 would bring a price bottom equal to a 72% drawdown. “Correct, -72% max drawdown next =$34,000, ” he wrote on X. That figure exceeds commonly held predictions by traders for where Bitcoin’s next generational floor will be.
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