There may still be a bullish window before the next round of large-scale profit-taking begins.

According to @Darkfost_Coc's analysis, the MVRV ratio for short-term holders is currently only 1.15, far below the 1.35 threshold that usually triggers large-scale profit-taking. The price of $BTC still has about 20%-25% upside potential before reaching the critical MVRV threshold.