Neither really, but you do want to prioritise losing fat as opposed to packing on muscle.
Standard bulk and cut cycles were designed for body types that respond differently to training and nutrition than yours does.
Bulking makes skinny-fat guys softer. You don't gain muscle the way an already-lean guy does, you just add more fat to a soft frame. Aggressive cutting makes you smaller but still undefined so you lose muscle alongside fat and end up lighter but the same shape.
The answer is a specific recomposition approach built around how your body actually works.