Cathie Wood: BTC Risk Structure Reshaping, the "85% Crash Era" May Be Gone Forever

In a recent interview, Cathie Wood, founder of Ark Invest, stated that Bitcoin has entered a mature stage, and the historically common 85%–95% plunges may be a thing of the past. She pointed out that even a future retracement of 50% would be considered a "significant step forward" within the Bitcoin community, believing that Bitcoin has grown from an emerging technology into a "mature monetary system and asset class." In a previous cycle, Bitcoin fell nearly 80% from its 2021 high of approximately $69,000, hitting a low of $15,600. According to on-chain data platform Glassnode, the maximum retracement in this bear market is approximately 52% (based on the October 2025 high of $126,200), which has not yet reached the historical average. (Cointelegraph)