Recent price surges in Bitcoin haven’t convinced many traders that the bull market is truly strong. Analysts predict a ‘sanity check’, with some expecting a correction to bring BTC/USD back down towards its 2021 highs of around $69,000. This prediction is based on historical price patterns and suggests a peak in Q4 2023 before the start of a subsequent bear market. Bitcoin’s recent surge is fueled by institutional investments, further increasing expectations for volatility and potential pullbacks. While some traders cite bullish momentum driven by ETF adoption and large-scale institutional buying, the market is increasingly cautious due to price action that deviates significantly from typical bull market trends.