It's bull market but Bitcoin can't afford to drop more.
Because if it drops more, bears will come out again and bears can become very dangerous.
Bitcoin just needs a stable gain now and bears will be frightened again and won't attack.
In the beginning of the month, we have a huge jump in prices, so you can't blame those who voted and convince that we are in a bull run. And specially after the approval of the Bitcoin ETF's, we almost top $50k and we thought that it will continue it's bullishness because of that news. However, it was the opposite, maybe there is some kind of manipulation behind, maybe some big entities take advantage of the situation, liquidate their position when we hit $49k'ish and take profits, and then newbies panic when they saw this huge sell orders and follow and push the sell button as well. So we can't assume that we are in a bull run, bears will be bears, they will go and try to put pressures whenever they can to make people sells. They can easily create FUD as well to sow and manipulate public opinions and then they will take advantage of that situation again and again.