Cathie Wood: Bitcoin's $28 Billion Deleveraging Loss is Severe On January 26, 2026, ARK Invest CEO Cathie Wood pointed out on Fox Business that Bitcoin's recent pullback from its highs was influenced by a $28 billion deleveraging event triggered by a Binance software glitch on October 10. She analyzed that the current market selling pressure has mostly subsided, and as institutional investors focus on the 'four-year cycle' turning point, Bitcoin is expected to consolidate in the $80,000 to $90,000 range before ending its downtrend and resuming its upward momentum. Source: Fox Business