There's the adoption rate, and then there's the hoarding percentage.
The higher the percentage of hoarders, who are not weak hands, the more upward pressure there is, as we can see now. So even if the market looks bearish to the weak hands, it won't go down nearly as easily with the strong hand hoarders/investors, who look at the more long-term, or are not easily shaken.

Bitcoin can either go up from adoption, traders, or investors.

If there's an influx of adoption, there is increased demand

If the traders think the market will go up, there is increased demand

If the investors think the price will go up in the long-term, there is increased demand.

It's the weak hands that push the price down (and largely responsible for volatility). The strong hands hold the market up, and prevent it from going to the floor so easily.