The Bitcoin Bull Market Isn’t Over Yet: A Comprehensive Analysis of Data and Market Psychology

Bitcoin Remains Structurally Strong After Price Correction

Chart: https://www.gate.com/trade/BTC_USDT

After hitting a high of roughly $126,000 in October 2025, Bitcoin’s price pulled back to the $108,000 range. Although this might look like the end of the rally, technical analysis shows the price is still moving within an upward channel, with both highs and lows trending higher. The market has not shifted into a bear phase; it is simply experiencing a typical “cooling period” common in bull markets. Similar corrections occurred in 2021 and 2017, after which prices reached new record highs.

Signals from On-Chain and Market Data

On-chain metrics indicate that long-term holders continue to accumulate assets, while Bitcoin balances on exchanges are steadily decreasing—showing most investors still prefer to “hold rather than sell.” On the capital side, stablecoin inflows to exchanges are rising, signaling ongoing buying interest. Another key indicator is Bitcoin’s hashrate, which keeps reaching new highs, typically reflecting miners’ confidence in price and enhanced network security.

Why the “Bull Market Isn’t Over” Thesis Holds

• Market Cycles: Bitcoin bull markets usually last 12–18 months. Since the 2024 halving, only about six months have passed, so the market remains in the mid-uptrend phase.
• Sentiment: A drop in social media and search interest actually signals a “healthy correction.” When public enthusiasm wanes, the market often builds momentum for the next rally.
• Macro Trends: Global liquidity hasn’t fully tightened, and expectations of Fed rate cuts along with rising digital asset adoption continue to support risk assets.

Logically, as long as prices remain elevated and long-term capital stays in the market, the bull run has a solid foundation for continuation.

Risks and Short-Term Volatility to Watch

The continuation of a bull market doesn’t mean prices won’t fall. Short-term volatility can still be significant:

• If the price drops below $100,000, it could trigger some stop-loss selling;
• Macro risks—such as geopolitical events or policy tightening—could cause panic-driven corrections;
• Excessive leverage remains a major risk factor.

For newcomers, it’s crucial to understand that “correction ≠ crash.” The most common pitfall in bull markets is selling impulsively during short-term pullbacks.

Key Takeaways for New Investors

• Stay Rational About Volatility: Corrections are normal in bull markets; sideways movement or modest dips are actually accumulation phases.
• Use Staggered Entry Strategies: Avoid going all-in—opt for dollar-cost averaging or diversified entry points.
• Watch Long-Term Signals: When long-term capital keeps flowing in and on-chain activity rises, the market remains active.
• Be Patient: Bull markets never reach their peak in a single surge; consolidation, correction, and breakout are all essential steps.

Conclusion

Bitcoin’s upward trajectory is never a straight line. Today’s volatility is more like a “breather within the bull market.” As long as the underlying structure holds and liquidity and confidence persist, the Bitcoin bull market is far from over. For newcomers, maintaining discipline and patience is key.