The bull market for spot trading has ended, and the bull market for futures has arrived. As long as there is volatility and trading volume, it is a bull market for trading.
Whether Bitcoin drops to 60k, 50k, or 40k is no longer important; traditional American institutions have come in to take control. It is no longer the small market that was previously ignored, where miners and exchanges held sway.
Really ask yourself, this year, apart from Bitcoin's strong performance, is there a bull market for altcoins? Is a market where a few hundred Solana can be speculated on really called a bull market?