Cathie Wood: Bitcoin has entered a mature stage, and the era of an 85% crash is now in the past

According to Cointelegraph, Ark Invest founder Cathie Wood stated in a recent interview that Bitcoin has entered a mature stage, and the historically common 85%-95% deep crashes may be a thing of the past.

She pointed out that even if future pullbacks reach 50%, it will be seen as a "significant progress" within the Bitcoin community. She believes that Bitcoin has grown from an emerging technology into a "mature monetary system and asset class."

In the previous cycle, Bitcoin fell nearly 80% from its high of about $69,000 in 2021, reaching a low of $15,600. According to on-chain data platform Glassnode, the maximum drawdown in this bear market is about 52% (based on the October 2025 high of $126,200), which has not yet reached the historical average level.