Recently,  Catherine Wood, Founder, CIO, and CEO at ARK Investment Management, LLC (aka “ARK” or “ARK Invest”), said that Bitcoin’s on-chain metrics are pointing to a relative market bottom and upside volatility. 

Wood made her comments in a video released on her firm’s YouTube channel on June 4.

Wood said that her fund’s metrics were pointing to short-term holders of Bitcoin capitulating. She called this “very good news” for Bitcoin investors hoping to find a bottom from the recent sell-off. 

Wood also noted that long-term holders, those holding Bitcoin for at least a year, have reached an all-time high of 65.7%. 

As reported by The Daily Hodl, she said, 

We’ve got some very strong holders or HODLers here. That’s also very good news, although we might see some long-term holder capitulation to mark the bottom. 

Wood claimed she was keeping tabs on the Bitcoin futures market, with futures currently selling at a discount to the spot market. She said the discount had historically coincided with periods of volatility, but was unable to guarantee whether the movement would be up or down. 

However, noting her earlier assessment of Bitcoin reaching a market bottom, Wood said that her judgment call was for Bitcoin’s next bout of volatility to be an upward movement. 

She warned investors to continue employing caution, particularly in the wake of the “Terra disaster.”

She said, 

Nonetheless, we are on guard. You know, the Terra disaster, it was a fiasco for crypto, I think, in terms of raising or giving regulators even more incentive and reason to come in and regulate a little bit more with more of a heavy hand than we would anticipate.