Cathie Wood, CEO of ARK Invest, suggests Bitcoin is transitioning into a phase characterized by smaller price pullbacks due to increasing institutional adoption. In an interview, Wood highlighted Bitcoin's evolving role as a risk-averse asset, potentially breaking its historical cycle of significant price drops. She noted that Bitcoin's volatility has decreased by about 30%, and its price may have bottomed out recently. Wood also compared Bitcoin's current trajectory to gold, which has risen nearly 60% this year. She anticipates a reversal in this trend next year, with Bitcoin gaining momentum as a risk-averse asset while gold prices may decline. Wood's insights reflect a broader belief in Bitcoin's potential to act as a safe-haven asset amid geopolitical and economic uncertainties.