ARK Invest Adjusts Bitcoin Outlook

The cryptocurrency market is seeing a recalibration of expectations, particularly concerning Bitcoin. The digital asset is currently trading just below $103,000, having experienced a 16% decline in value over the past month. This recent downturn has prompted a more cautious outlook from prominent market figures.

Notably, Cathie Wood, CEO of ARK Invest and a well-known proponent of Bitcoin's long-term potential, has publicly stated a revision of her previously bullish price projections. During an interview on CNBC’s Squawk Box, Wood indicated that ARK Invest has tempered its expectations, acknowledging the recent market movements and their implications for Bitcoin's short-to-medium term trajectory. This adjustment reflects a broader market sentiment of caution as investors assess the current price trajectory.