Overview
- Wood argues Bitcoin’s historical boom‑bust pattern is fading as volatility has declined by roughly a third and extreme 75%–90% drawdowns look less likely.
- She says a recent pullback may have already bottomed a couple of weeks ago, pointing to deeper institutional participation as a buffer against further declines.
- Wood characterizes Bitcoin as a risk‑on asset and expects it to outperform gold next year, contrasting with gold’s strong year‑to‑date rise used as a geopolitical hedge.
- Standard Chartered’s Geoffrey Kendrick similarly contends that ETF buying has made the halving cycle no longer a relevant price driver.
- Bitcoin trades near $94,000, with market attention on ETF flows and the upcoming Federal Reserve decision.