Is the bull market really coming to an end?

The rumors of this bull market ending have been constant since it surged to $100,000 by the end of 2024; after the inexplicable and unresolved liquidity drain that caused the collapse on October 11th this year, market confidence began to waver; recently, as November arrives, the voices predicting a bear market are all around us.

However, none of the so-called top-following indicators that people use to predict market tops—as many as 30 indicators in total—have indicated a "top"!

However, none of the so-called top-following indicators that people use to predict market tops—as many as 30 indicators in total—have pointed to a "top"!

Could this cycle be a massive slap in the face, a collective Waterloo for all indicators? Technical indicators always seem to suffer from the curse of reflexivity. The more people use them, the less accurate they become. This is the complete opposite of the self-fulfilling prophecy effect. The market's dilemma lies in whether the more people believe, the more self-fulfilling it becomes, or the more self-destructive it becomes. ChainChain can't help but wonder if the problem lies in humanity's tendency to be overly clever. Most people don't know. Then a small group who do know can profit from information asymmetry and cognitive asymmetry. Most people do know. Knowing doesn't equal believing. Believing doesn't equal following. Most people have their own agendas. Everyone wants to be one step ahead, selling (or buying) in advance, thus distorting indicators and rendering their predictive accuracy inaccurate. Some people look back at history and say that the last cycle peaked and ended in October. Why not look at the cycle before that? The one in 2017. In early November 2017, a long bearish candlestick cast a shadow over the bull market. Before that, BTC had climbed from around $160 at its 2015 low to nearly $7860, a 48-fold increase. But in just one week at the beginning of November, BTC plummeted from its all-time high of $7860 to a low of $5500, a drop of 30%. But then, the market began its astonishing performance! In the short span of five weeks that followed, BTC surged with five consecutive large bullish candles, climbing from a low of $5,500 in early November to a staggering $19,800, a gain of 260%. The bearish candle in early November (circled in blue in the image) is now far behind, left behind by the bullish frenzy. Everyone present and those absent went crazy. The bull market collapsed. What will the November correction in 2025 bring? I am not like the weeping willow swaying in the wind; I would rather be the white poplar standing proudly in the cold wind. In the game of self-realization, firmly stand on the side of the greatest consensus. In the game of self-destruction, always be a maverick in the minority. ... On Tuesday, November 4, 2025, the crypto market seemed shrouded in a pessimistic bear market overnight. BTC completely broke through the psychological watershed of the 200-day moving average at 109k, retreating to the 106k range. The well-known and established DeFi protocol Balancer was hacked, which dealt a significant blow to industry confidence. ChainNews saw a post jokingly saying, "Hey hacker, just a heads-up, there's nearly $50 billion TVL in AAVE." This prompted a reply: "If AAVE is breached, the DeFi industry will be destroyed. Maybe we'll have to consider rolling back the Ethereum chain to deal with it."