I understand what you're saying but here's the thing. I expected bitcoin to not stagnate around for a long time after it hit 70k or whatever its ATH is. But it just falls away from that price alot of times. I dont know why it is doing that. But I surely don't think that it has any chance of reaching $1 million in the future unless there is some type of massive inflation which wouldn't really make it worth anymore than it is in today's dollars....
bitcoin has known market cycles where it was not due to pump to new ATH so close to the halving, so whales are now suppressing further pumps now to stay in the market cycles range for their algos to still trade on via historic data
usually during the era so close to the halving the markets value bottom raises and the market tests out the value bottom and then the following year it then gets to test the tops of new ATH
seems some were too eager to use the moments of the halving as a trigger to want the next bull to ATH to start at the same time. however when many whales use bts and algos to make trade decisions, entering a new era of ATH will break the pattern and break the bots ability to trade on market cycle data by breaking the cycle.. so they are suppressing the market to stay in the expected range for this period for take advantage of cheap trading..