According to CoinMeta, analyst Frank Cappelleri suggests that Bitcoin (BTC) may still be in the early stages of a larger bull market. He noted that Bitcoin rose by about 20% in August and mentioned that recent price behavior is different from previous failed rebounds. His first reason for this is the breakout; a breakout occurs when prices surpass previously difficult-to-cross levels. In an article written on October 1st for CNBC Pro, Cappelleri mentioned that the breakout signal for Bitcoin was valid once again, with Bitcoin rising by 36% over the past three months. He also pointed out that three other patterns became invalid between the end of 2025 and the beginning of 2026, which is a typical phenomenon during downtrends. The second reason given by Cappelleri is historical comparison; this year's weekly chart of Bitcoin resembles the trend from 2022 to 2023, with the weekly average price turning upward after a breakout, indicating a shift from a downward to an upward market trend.