Svmuu News: In an exclusive interview with Alex Thorn, Head of Research at Galaxy, on the Galaxy Brains podcast, CZ stated that the current pullback in the crypto market remains within the normal four-year cycle, and that a pullback of approximately 50% in this cycle is not uncommon—historical cycles have seen pullbacks as high as 80%. CZ noted that, measured from the cycle’s low point, the price of Bitcoins is still about five times higher than it was four years ago, and that the low point of each cycle has been higher than that of the previous one. He emphasized that he has always maintained a long-term perspective, stating, “For me, there is no exit from crypto.” CZ also pointed out that the biggest difference between this cycle and those of 2018 and 2022 lies in the U.S. government’s marked shift in attitude toward the crypto industry.Previously, the U.S. took a repressive stance toward the industry, but it is now actively promoting the development of a regulatory framework for crypto and leading other countries to follow suit. Furthermore, the emergence of ETFs, stablecoins, real-world assets (RWAs), and the influx of more institutional capital all indicate that the industry’s fundamentals have significantly improved compared to the past.