According to CoinDesk: Bitcoin (BTC) experienced a slight downturn on Thursday, slipping about 2% to just above $34,000, after a near-20% surge over the past week. This happened as the crypto markets cooled down following a significant rally spurred by the anticipation of a spot Bitcoin ETF. Despite this, Matrixport suggests that Bitcoin is still in its fifth bull market and could reach $125,000 by the end of 2024.Other cryptos like Ether (ETH) remained relatively steady, pegging around $1,790. The CoinDesk Market Index (CMI), which tracks a wide basket of digital assets, was down by 1.3% on Thursday. Among the significant decliners were Chainlink (LINK) and adventure gold (AGLD), which slipped about 5% and 9% respectively, influenced by movements of these tokens from FTX wallets to Coinbase, likely for sale.Conversely, memecoins such as Dogecoin (DOGE) and PEPE cash enjoyed an uptick, with the former surging nearly double digits and the latter gaining 6%.Despite the cooling period, Matrixport maintains an optimistic outlook. It believes that the current bull run is driven primarily by institutional adoption. The unique properties of Bitcoin, often likened to safe-haven assets like gold and treasury bonds, seem to be attracting institutions looking to diversify their portfolio."The fifth bitcoin bull market appears to be primarily driven by the expectations of institutional adoption," Matrixport notes. As a testament to their bullish views, analysts at the firm maintain their prediction that Bitcoin's price will rise to $125,000 by the end of 2024. Bloomberg analyst Jamie Coutts echoed this sentiment, suggesting that Bitcoin's price trajectory signals an ongoing bull market regime, though occasional pullbacks may occur.