Opinion: We are currently in a "classic cyclical bear market." It would be cause for concern if BTC fails to recover in the fourth quarter.

According to Odaily Odaily, Token Bay Capital founder Lucy Gazmararian stated that the recent Bitcoin price correction is more consistent with typical "mid-cycle bear market" characteristics than a structural market collapse, and the market is currently still in a normal adjustment phase within its historical cycle. Despite the pressure on Bitcoin prices, there are no signs sufficient to indicate that its long-term investment logic has been undermined; therefore, this correction should be viewed more as cyclical fluctuations than a signal of deterioration in the fundamentals of the crypto market. However, Gazmararian also emphasized that if Bitcoin fails to show a significant recovery in the fourth quarter of this year, it could indicate that the market is entering a deeper adjustment or structural risk phase. Currently, investment in the artificial intelligence sector is rising, especially with increasing market attention on Anthropic's potential IPO. However, this flow of funds is not part of the same pool as native crypto capital; therefore, the AI ​​investment boom does not necessarily mean a large-scale outflow of funds from the crypto market. (CNBC)