The analysis suggests that the current pullback from August highs of around $124k to $108k resembles a typical mid-cycle correction rather than the end of the bull run. Historical four-year halving cycles suggest the market is within peak territory timing-wise, and long-term holder accumulation and low exchange reserves counter top signals. The current pullback, being approximately 15%, aligns with institutional consolidation and has shaken out short-term speculators, which is a consistent pattern with past dips before final legs up. The presenter sets $145k price as a target for year-end 2024. A potential near-term catalyst is potential Fed rate cuts, while long term holders are continuing to hodl.