The cryptocurrency market has entered the final stage of a bear market, but the true bottom may not have been reached yet. Bitcoin's decline below $60,000 and Ethereum's weakness are indicative of this trend. A recent slowdown in AI-related transactions has become a major topic globally, with the Nasdaq index declining for five consecutive trading days and the Philadelphia Semiconductor Index dropping 7% in one day. Investors are shifting from large-cap tech stocks to small-cap stocks and US Treasury bonds, putting pressure on crypto assets alongside tech stocks. The US PCE inflation rate rose to 4.1% in May, solidifying market expectations of prolonged high interest rates and a stronger dollar, which negatively impacts risk assets. The current market sentiment is one of extreme fear, with the Fear & Greed Index ranging from 18 to 24, and about half of the circulating Bitcoin supply in a loss-making position. However, the true bottom is likely to be marked by the return of funds, which has not happened yet, with spot ETFs experiencing net outflows of around $1.8 billion. Wintermute predicts that the crypto market is unlikely to reach its bottom in the summer due to historical seasonality and may reach its true bottom in September or October, depending on macroeconomic conditions and the return of capital to the crypto market. Ethereum, a major cryptocurrency, is also affected by these trends