If you look at the current market situation, it is certain that the bulls have returned as most of the altcoins have experienced very good growth. although the increase in each coin has not been maximized but I believe this positive trend will continue until every altcoin gets its ATH back.
But its could be another bulltrap to lead people shorting more and accumulating them on the lower price. Atleast i see that situation manytimes on EOS.
I'm sure there are whales or groups of investors who are trying to manipulate the prices of coins with low market cap. Such situations will always happen. However, the overall trend is improving and it looks like the bulls have come back to push the price for new ATH.