BTC won't go ATH anytime yet, until year 2025

Some (if not all) of trader, investor are expecting a bitcoin bull run to set the new ATH before this 2023 end as they believed that bitcoin is already in the bull market.

I think new bull run and new ATH will not likely to happen anytime yet. The chart says that the bitcoin(BTC) is just about to enter the distribution phase. As well as considering that we still have 8 months to wait for the bitcoin halving. It is clearly seen in the past 3 halving that the bull run will start a couple of weeks after the halving.

Since the estimated 4th bitcoin halving is around April of 2024, the new All Time High (ATH) will definitely going to happen on September/October of 2025.