Some conclude that bull run is over but some assumptions it is not yet over. I have observe others comparing the current condition of bitcoin market from previous years of bearish market. In my view, it is a correction from reaching all time high, and it will bounce. A lot of speculation actually but seeing more institutions adapting bitcoin will giving more demand in bitcoin market.
It is hard to determine what the market would be as the market is controlled by institutional investment unlike the last two rallies there is a dominant investment from billionaires and institutes and that makes it hard to predict when these huge investors will be selling their coins or whether they will pump and dump for a while before dumping everything.