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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.