According to CoinMeta, Anthony Scaramucci, founder of Skybridge Capital, stated that the current bear market in Bitcoin (BTC) can be explained by the four-year cycle theory, with long-term holders selling off near the psychological threshold of $100,000 as a significant contributing factor. He predicts that the price of BTC will resume its upward trend in the fourth quarter of 2026, initiating a new bull market cycle. Scaramucci pointed out that the entry of institutional investors and the continued inflow of funds into Bitcoin spot exchange-traded funds (ETFs) have had a certain restraining effect on the four-year cycle of BTC, but have not completely eliminated its traditional cyclical patterns.