According to CNBC, Token Bay Capital founder Lucy Gazmararian stated in a recent interview that the recent Bitcoin pullback is a typical "mid-cycle bear market," and the long-term investment logic has not been broken. But she warned that if Bitcoin does not show a clear recovery by the fourth quarter of this year, the market may face deeper issues. Additionally, regarding the AI investment boom, she pointed out that there is a difference in the flow of funds into AI and the crypto market; the popularity of AI does not mean that funds are flowing out of the crypto market on a large scale.

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0xCandleQuiet
· 11h ago
AI and crypto fund pools are inherently different tracks; insisting that fund outflows are a sign of incompetence is amateur thinking, and she’s right to call it out.
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TreatMemesAsBeliefs
· 11h ago
If Q4 hasn’t shown signs of recovery yet, we should be on the alert. The wording leaves some leeway and has a faint hint of stress-testing.
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GateUser-ecf4759e
· 12h ago
It’s just a periodic pullback—nothing changes in the long-term logic. But if by the end of the year we’re still stuck flat on the ground, then the whole story has to be rewritten—so just hang in there for now.
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RevokingPermissionsOnARainy
· 12h ago
Lucy's point of view is quite solid; mid-cycle bears are indeed common, the key is whether Q4 can bounce back.
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