Chris Burniske, a former crypto lead at Cathie Wood's Ark Invest fund, responded to a question on the X social media platform about the current pullback in the crypto market. Burniske believes that the current market reverse is not a sign of the bull cycle top, but rather a mid-bull pullback similar to what was experienced in April, May, and June of 2021. He shared a Bitcoin chart from that time period when Bitcoin and top altcoins crashed by 50-80%, and noted that many traders thought it was over, but the market later rallied in the second half of 2021. Burniske cited the recent drop in Bitcoin's price and its correlation with traditional markets, attributing it to economic moves made by the US, China, Mexico, and Canada.



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