CRCL mentioned in its April 30 article that a good buying opportunity would appear in Q3. When the price rose to 140 in May, it was flagged as a bull trap rather than the start of a new rally. As planned, the bearish outlook towards Q3 remains unchanged. Then, in July and August, we saw the decline end near 58 ✅ The latest perspective is shown in Figure 1: 57.84-103.28 (blue segment in the chart) represents the first wave of weekly-level growth in this cycle, while the red segment is part or all of the weekly-level correction of the same scale. If the red segment is only part of the correction, the movement starting from 75.27 is a rebound against the red segment. After the rebound ends, CRCL will continue to adjust, with the earliest bottom of the correction expected to be found in late October or early November, followed by the next wave of weekly-level growth. If the red segment represents the entire correction, this would be a strong adjustment. Correspondingly, the movement starting from 75.27 would be weekly-level growth of the same scale as the black segment. Under this path, CRCL should quickly break above 87.3. The adjustment is temporary, and the trend is clear. We look forward to Circle leveraging the Arc blockchain to further enrich its business structure; the day U.S. stocks go on-chain and RWA (Real World Assets) take off in the bull market might just be the moment CRCL rises to prominence.