Bitcoin is not doing anything different from the past, it is always like this from my past experience, because when bull season is over, you see Bitcoin showing a bearish trend, and you see the price of Bitcoin fluctuating, and sometimes you see it going down, and sometimes you see Bitcoin also going up in price, and within this short period of time predicting the exact movement or price of Bitcoin is always very difficult, but however, the price of Bitcoin is always bullish, and appreciating in price over a long period of time. Actually when we talk about Bitcoin as a good investment, not every investors knows how it works, and this makes them to wobble in their thoughts weather their Bitcoin investment is still worth holding or not.
There are a few things that I disagree with. The first thing is that even though mostly the cycles go in the same way where we see a bear market which is then followed by a bull run and then the same thing happens in the next cycle as well, but I want to mention that things don't always happen the exact same way, and a prime example of this was this recent bull run where the price of Bitcoin crossed the previous all-time high even before the halving, when generally, the bull run starts after or around the halving and the whole market believes in this thing.
I would also say that Bitcoin is not actually always bullish. When we say that an asset is bullish, we mean it is either going up or is showing patterns that it will mostly likely start going up very soon, but with Bitcoin and this whole market, they get bullish and bearish depending on the period in a cycle and general market conditions. When the prices start going up, people say it's bullish, and when the opposite happens, it becomes bearish.
However, there is no doubt that we all know Bitcoin eventually goes higher than its previous price, and in that sense it could be said that it is generally bullish for the long run.