Things may not be looking that great, but, despite the recent drop, the fact that Bitcoin did not get hit too hard when compared to stock markets and some commodities can spark some optimism.
Some people were saying that, despite any outside factors, Bitcoin's price would follow the same pattern as in previous cycles - I think it's safe to say they were wrong. But this bull market could still be saved if Trump's tariff wars turn out to be just a hard-negotiation tactic and if the situation calms down in the near future.
That being said, the market (especially retail) has its patience and if we have another month or two with no positive action, people might just move on.