Cathie Wood Says $28 Billion Bitcoin Deleveraging After Binance Glitch Fueled Recent Pullback

On January 26, 2026, ARK Invest CEO Cathie Wood said Bitcoin's latest price pullback was driven by a roughly $28 billion deleveraging wave tied to a Binance software glitch on October 10. She argued the move reflected forced liquidations and market mechanics rather than weakening fundamentals, and suggested Bitcoin could now consolidate between $80,000 and $90,000 as leverage resets.