<\/p>\n
Bitcoin\u2019s October flush, driven by a Binance glitch and $28B deleveraging, may be over as Cathie Wood sees a shallow cycle, institutional demand, and upside ahead.<\/p>\n
<\/p>\n
Bitcoin\u2019s (BTC) latest shakeout may be over, but the blame game has only just begun. ARK Invest\u2019s Cathie Wood is pointing directly at Binance, arguing that October\u2019s violent \u201cflush\u201d has largely run its course and may have set up the next leg higher for the market\u2019s benchmark asset.\u200b<\/p>\n
Wood told<\/a> Fox Business that Bitcoin\u2019s recent weakness \u201cwas caused primarily by a Binance software glitch\u201d that unleashed roughly \u201c$28 billion in deleveraging\u201d after the October 10, 2025 flash crash. That episode remains the largest single-day deleveraging in crypto history, with more than $19 billion in leveraged positions liquidated as Bitcoin plunged about 14% from above $122,000 to roughly $105,000, while Ethereum dropped more than 20% in hours.<\/a>\u200b<\/p>\n The selloff began with a surprise U.S. tariff announcement on Chinese goods, but exchange microstructure did the real damage. Reports detail how Binance\u2019s pricing systems \u201cstruggled under extreme volatility,\u201d with some tokens briefly trading near zero and triggering cascading margin calls, a dynamic Wood described as a \u201csystemic shock rather than ordinary market volatility.\u201d<\/a>\u200b<\/p>\n Wood now argues the worst of the forced selling is behind the market. The Bitcoin \u201cunwind\u201d from October 10 is \u201clargely complete,\u201d she said, adding that the asset is likely to consolidate in the\u00a0$80,000\u201390,000 band before resuming its broader uptrend as this four\u2011year cycle\u2019s downside nears exhaustion. She called the current drawdown \u201cthe shallowest four-year cycle decline\u201d in Bitcoin\u2019s history and framed the asset as \u201cthree revolutions in one \u2014 a rules-based international monetary system, a technological advancement, and the leading asset of a new asset class.\u201d<\/p>\n <\/p>\n Critically for ARK\u2019s thesis, Wood insisted that big money is no longer arguing about whether Bitcoin belongs in portfolios. Institutional investors are \u201cno longer debating Bitcoin\u2019s legitimacy\u201d and are instead working on position sizing for what she labeled a \u201clow-correlation asset.\u201d More than 2,000 U.S. advisory firms now allocate to crypto ETPs, up from fewer than 200 before 2024, while custodians hold an estimated 5\u20137% of outstanding Bitcoin. ARK\u2019s Big Ideas 2026 blueprint pegs potential Bitcoin market value at $16 trillion by 2030.<\/a>\u200b<\/p>\n On her own product, the ARK 21Shares ETF, Wood was blunt: the firm is \u201cin it, to win it,\u201d arguing that support levels should hold as the last aftershocks of October\u2019s deleveraging clear.<\/a>\u200b<\/p>\n Despite Wood\u2019s optimism, spot prices remain under pressure. Bitcoin trades near \u20ac78,700, down about 3% compared with roughly \u20ac80,730 24 hours ago. Ethereum changes hands around \u20ac2,648, sliding roughly 4% from \u20ac2,757 over the same period. Solana trades close to \u20ac199, with a mild 24\u2011hour move of about \u22120.22% after a 16.5% gain over the past week.<\/a><\/p>\n <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s October flush, driven by a Binance glitch and $28B deleveraging, may be over as Cathie Wood sees a shallow cycle, institutional demand, and upside ahead. Summary Binance software glitch…<\/p>\n","protected":false},"author":1,"featured_media":2010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-20874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=20874"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20874\/revisions"}],"predecessor-version":[{"id":20875,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20874\/revisions\/20875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/2010"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=20874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=20874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=20874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u201cShallowest\u201d cycle, institutional turn<\/h2>\n
Market snapshot: majors in the red<\/h2>\n