We investigate the photon-dressed state of excitons in bulk GaAs by optical pump-probe spectroscopy. We reveal that the high-energy branch of the dressed states continuously evolves into a singular enhancement at the absorption edge in the high-density region where the exciton picture is no longer valid. Comparing the experimental result with a simulation based on semiconductor Bloch equations, we show that the dressed state in such a high-density region is better viewed as a Bardeen-Cooper-Schrieffer-like state, which has been theoretically anticipated to exist over decades. Having seen that the dressed state can be regarded as a macroscopic coherent state driven by an external light field, we also discuss the decoherence from the dressed state to an incoherent state after the photoexcitation in view of the Coulomb enhancement in the transient absorption.