Cathie Wood Attributes Bitcoin Losses to $28 Billion Deleveraging

2026-01-28 03:00

ARK Invest CEO Cathie Wood revealed that a $28 billion deleveraging event, caused by a Binance software glitch on October 10, led to Bitcoin's recent price pullback. Speaking on Fox Business, Wood noted that the selling pressure from this event is mostly over. She anticipates Bitcoin will stabilize between $80,000 and $90,000 before concluding the current four-year cycle's downturn and resuming its upward trajectory.

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