Now (in October 2025)

The market is not a true bull run, but it is also not a full bear market.

We can say it's a transitional or accumulation phase between the two.
Let me briefly clarify the current situation:

📊 1. Bitcoin (BTC):

It is moving in a sideways range after a strong correction.

Liquidity is gradually returning from small coins to it.

It hasn't broken previous peak areas, so we can't say a bull run has officially started.

📉 2. Altcoins:

Most of them are still in bottom areas or close to them.

There is bleeding in some coins, which means investors are reducing their risk.

We are still in a more cautious market than a comprehensive bullish one.

💡 Summary:

> We are now in a transitional area between a bear market and the beginning of an early bull run.
The long-term general trend could turn bullish in the coming period if Bitcoin maintains its main supports and starts to form higher peaks.