Bearish of BTC happened due to many economical and political effects happened against it so the demand that Bitcoin had in the past has decreased for some extend but it is gaining slowly little by little but to recover fully it might take more time than we anticipated because the drop was much bigger in the past and for this day many people ha left the BTC market and some even left the entire crypto market by selling there assets and even Bitcoin is attracting new comers it might take some time to get normal
Political effects? I really do not see much of a political effect dropping the prices badly and whatever you must have heard in the news, even though could have added a little bit to the downtrend as a catalyst, the downtrend was just something that was inevitable from last year's bull run.
First, before you tend to see a bull run, it is best to ask yourself what instigated it in the first place. In this case, i would say greed did and for that reason, we are where we are now. As simple as that. Many people do not understand how steady growth can sometimes make more sense than just some crazy spikes.