Yes adoption and engagement will further affect the price of bitcoin but I don't think we are still going to see such kind of increase that we saw during the month of May and precisely May 22 (bitcoin Pizza day).

With the engagement and adoption, we are going to see more hodlers so that the bear season that is expected next year or anytime soon won't be a ridiculous fall to 4 digits. This is what I think because despite the bear, we are still going to see strong hands that will leave there coins to next halving and that means demand and supply will still be on. Take for example before the halving for this season, the price of bitcoin didn't go down below $70k (which is 5 digit). And since then, more institutions have added more to their store house like Marathon, Microstrategy, US, China, Coinbase etc. So this will help to stabilize the price of bitcoin not to dip as far as 4 digit before the next halving.