Cathie Wood: Bitcoin downturn nearing end, correction is 'very shallow'

Ark Invest CEO Cathie Wood stated that Bitcoin is nearing the end of its current downturn. In an interview with CNBC, she explained that the correction in this cycle is likely to be much shallower than in the past. Wood noted that because the last bull run was very gradual by Bitcoin's standards, the current correction is also relatively limited. She suggested that while BTC could retest the $80,000 to $90,000 range, this level is likely to act as support. Wood characterized the current market trend as part of the asset's maturation process rather than a structural bear market, adding that an upward trend will resume once the correction concludes.