Jakarta, Pintu News – Bitcoin’s (BTC) sharp volatility last October has reignited the debate about the stability of the crypto and cryptocurrency markets. The rapid price decline had sparked concerns that the market had entered a prolonged bearish phase.

However, ARK Invest CEO Cathie Wood sees the event as a major shakeout that is now nearing its end. According to her, this correction has the potential to be the foundation for Bitcoin’s next upward movement.

Binance Glitch and the Biggest Deleveraging in Crypto History

Cathie Wood thinks Bitcoin’s October collapse was triggered primarily by a software glitch on Binance. The glitch triggered a massive deleveraging worth 28 billion US dollars or around Rp470.3 trillion in one day.

This event was recorded as the largest daily deleveraging in the history of the crypto market. As a result, Bitcoin plummeted about 14 percent from levels above US$122,000 to around US$105,000.

In the same period, Ethereum (ETH) also came under significant pressure with a price drop of more than 20 percent in just a matter of hours. The sell-off was accelerated by the forced liquidation of leveraged positions totaling more than $19 billion. Wood considers this dynamic to be more than just ordinary market volatility. He calls it a systemic shock triggered by a failure of the exchange’s microstructure.

Shallow Cycles and Shifting Institutional Perceptions

cathie wood bitcoin prediction — Source: Time

According to Wood, the unwind phase that began on October 10 is now largely complete. He expects Bitcoin to move consolidatively in the range of 80,000 to 90,000 US dollars before resuming its uptrend. Wood calls this correction the shallowest decline in Bitcoin’s four-year cycle. This reinforces his view that the BTC market structure is maturing.

Furthermore, Wood emphasized that there has been a major shift in the way institutions view Bitcoin. Institutional investors are no longer debating the legitimacy of BTC as an investment asset. The focus has now shifted to determining the size of the allocation in the portfolio. Bitcoin is positioned as an asset with low correlation to traditional financial instruments.

ARK’s Ambitious Targets and Bitcoin Value Projections

ARK Invest projects that Bitcoin’s market value could reach US$16 trillion or around Rp268.8 quadrillion by 2030. This projection is based on growing institutional adoption. Currently, more than 2,000 financial advisory firms in the United States have allocated funds to crypto ETP products. This is a sharp jump from less than 200 firms before 2024.

In addition, institutional custodians are now estimated to control around 5 to 7 percent of the total circulating Bitcoin supply. Wood called Bitcoin a triple revolution – a rules-based monetary system, a technological breakthrough, and the flagship asset of a new asset class. He also emphasized ARK’s commitment to the ARK 21Shares ETF product. According to him, the market support level should be maintained as the impact of October deleveraging subsides.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

crypto.news. Bitcoin shakeout sets stage for next BTC leg higher, says Cathie Wood. Accessed January 30, 2026.
Featured image: Market Watch

Author

Kezia Marcellova

Topic

#Cathie Wood