From the data perspective:

2022-2023 is a bear market, with little change in BTC prices;

2021 was the end of a bull market, with a price decline;

2020 was the warming-up period of the bull market, with price increases;

2018-2019 saw a general decline in prices;

2017 was a major bull market, with prices rising after Christmas.

Based on these patterns, this round of market trends may rebound after Christmas, similar to the trend from 2020 to early 2021. Therefore, I believe this bull market has not yet ended, and may instead welcome a new upward cycle.