I don't think that we are still in the bull market now. But I respect the people who are thinking that way. I think that we already have entered the bear market. The big dump and the movements of the price also prove that, in my opinion. But I hope to see Bitcoin price starting to rise again and reach a new ATH as soon as possible.
I have the same feeling too, it feels like this is a trap or a reversal of some kind so I don't think that it's good to do a big move in the market since people are hyping the market and we know that with the hype, it's possible that we will end up with a rug pull at the end.
we have had a bearish market for a very long time and price going further down as you rightly put it being a bull trap or reversal preparation is not what is being projected on the markets as we are bullish!!
I don't know what has caused the jump in price but are about to test the psychological barrier of $40k sooner or later, should price not have any resistance $45000 would be our price target for August.
Despite what some might think, I do believe bitcoin will see another bull season. It's just that it will likely be a period where the price rebounds from around $1,000 to maybe $2,500. But then after that it'll keep trending toward $0.
Is this price in reference to bitcoin you are talking about mate? Prices are 30 times higher than this