Nearly six months after the October 10 cryptocurrency collapse that wiped out millions of dollars in a single day, Bitcoin remains under pressure, as it trades… Much less Its last peak. Assets arrived Highest level ever It was valued at $126,080 on October 6, but has since fallen approximately 47% to approximately $67,000.
Despite the drawdown, Cathie Wood, a longtime Bitcoin advocate and CEO of ARK Investment Management, urges investors to maintain a long-term perspective.
Wood, whose company was among the first publicly listed asset managers To gain exposure to Bitcoin In 2015, it maintained an active presence in cryptocurrency-related stocks. ARK Invest continues to trade shares of companies associated with the digital asset sector, including Coinbase, Robinhood Markets, Block, Circle Internet Group, Bitmine Immersion Technologies and Bullish, adjusting positions in response to market conditions.
In an interview with CNBC’s Squawk Box, Wood addressed the current downturn, explaining the extent of Bitcoin’s decline as a sign of maturity rather than weakness.
The roughly 50% decline from peak levels represents a shift from the extreme volatility seen in previous cycles, when bitcoin routinely saw drawdowns of 85% to 95%, she said.
According to Wood, such severe collapses are unlikely to be repeated. she described Bitcoin is considered a “proven technology” and a “new asset class,” suggesting that its market behavior has evolved alongside its broader adoption and institutional participation.
In her view, the current correction would be considered a “real victory” within the Bitcoin community if losses remain limited to around half the peak value.
Bitcoin vicious circles
Historical data supports the comparison to previous cycles, although the current downturn has not yet matched previous bear markets in terms of severity. During the 2021-2022 cycle, Bitcoin fell nearly 80% from its then-record high of around $69,000, eventually bottoming near $15,600.
Onchain data from Glassnode suggests that the current decline, measured against the October 2025 high, has reached around 52% at its lowest point.
All of this is happening as the price of Bitcoin declines Troops A growing number of public companies and sovereign entities have unloaded their bitcoin treasuries, marking a sharp reversal from the accumulation trend of the past two years. Companies that once defended long-term holdings are now selling to manage liquidity, pay down debt, and fund strategic pivots.
Companies like Riot padsGenius Group, Empire Digital, Nakamoto Holdings and Marathon Digital all reduced their holdings, in some cases significantly. Marathon alone sold more than 15,000 bitcoins for $1.1 billion to reduce debt, while Genius Group exited its position entirely. Riot has also unloaded Bitcoin as it shifts focus toward artificial intelligence and high-performance computing infrastructure.
Even companies that remain committed to Bitcoin are reducing their reserves. Empery Digital sold a portion of its holdings to repay loans, while Nakamoto Holdings liquidated a smaller portion to support operations. Meanwhile, Bhutan has reduced its state-backed Bitcoin reserves after previously accumulating through mining.
Despite the sell-off, public companies still collectively own about 1.16 million bitcoins, more than 5% of the total supply.
