Cathie Wood (캐시 우드), CEO of Ark Invest, said bitcoin will no longer repeat market cycles in which it plunges more than 85 percent from a record high, Cointelegraph reported on Thursday. Some in the market also projected the next low at $34,000.

In a CNBC interview on April 1, Wood described bitcoin as a “proven asset.” She said the market would see it as a major win if bitcoin limited its decline to 50 percent.

At the time of her remarks, bitcoin was trading near its 2021 peak of around $69,000. In the subsequent bear market, bitcoin fell nearly 80 percent over a year to as low as $15,600. Bitcoin bear-market declines have typically been around 80 percent.

Glassnode data showed the maximum drop in this bear market has yet to match past patterns. The current maximum decline stands at 52 percent from the record high of $126,200 set in October 2025.

Wood's comments drew swift pushback. Market analyst Tony Severino forecast a 2026 bitcoin bottom of $34,000, down 72 percent from its record high. That is below the widely discussed view of a $40,000 to $50,000 floor. Bloomberg Intelligence's Mike McGlone also warned this week that bitcoin's price may already be moving toward its lowest level in 7 years.