As I've understood the term, bullying has never been presumed to involve actual physical violence. As it was used in our youth, there had to be an element of physical threat for the word to be applied, but the threat didn't necessarily have to be carried out; these days, what would have then been called "teasing" or "picking on" would also be termed bullying, at least when coming from someone (or ones) with more social power toward those with less.

Which evolution in terminology makes sense to me, since it's quite possible to make a kid's life a living hell without hitting, or even threatening to hit, them. Especially when the kid is not legally allowed to leave the vicinity of their tormentors.