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A bull market is a sustained period of rising prices, typically defined as a rise of 20% or more from recent lows. In forex, it describes a currency or asset in a prolonged uptrend. Bull markets are driven by optimistic sentiment, strong economic data, or risk-on conditions. Traders profit in bull markets by buying (going long).
If gold (XAUUSD) rises steadily from $2,500 to $3,000 over six months as central banks add to gold reserves and inflation expectations rise, that is a 20% rise and a bull market for gold. Long positions profit from this sustained advance. Prices in this example are illustrative.
