It all depends on how you draw your lines.
On the one hand I have seen a lot of charts showing how the bull markets are going lower and lower in terms of total returns, which makes sense considering the amount of money needed to move the market at higher prices.
However, I have seen other charts showing that the channel continues as is and the party goes on.
Charts like this:
(Source: https://twitter.com/AurelienOhayon/status/1739259806572068956/photo/1)
It seems absolutely insane to me that we go to $300k during this cycle, but you never know.
I suspect the highs will be more muted around $120k or maybe $150k, which is still massively higher than the current price.
Hopefully the above chart is right tho!