He Yi: The recent decline may just be a minor fluctuation; both the absolute cycle theory and volatility patterns are being restructured.

On December 3, CEX Co-CEO He Yi shared her outlook on the recent market correction and the industry’s trajectory for 2026, stating, “First, let me clarify that this is a personal view and does not constitute investment advice. Bitcoin is the most decentralized crypto asset, and in the long run, today’s decline may just be a minor shake-up. I believe that the current market downturn and volatility will not be as intense as in the past; Bitcoin has evolved from a niche asset to a mainstream core asset. Although there are reports in the market about certain countries selling off seized assets, more and more sovereign funds and wealth are allocating to Bitcoin.”

“The underlying logic of the crypto market has already changed, and the absolute cycle theory and volatility patterns are being restructured. Basic strategies that were highly profitable in past cycles may no longer work now. That’s because the players have changed, the pond has grown, and the fish have gotten bigger. If you still stick to the old logic of catching small fish and shrimp in the corner, it may not work in this cycle.”