Bitcoin analyst Frank Cappelleri compares the current BTC chart structure to the 2022-2023 cycle that preceded a 400% rally. Bitcoin fell about 70% during that period versus a 54% decline this cycle, which the analyst sees as a bullish setup. The cryptocurrency was trading at about $84,000 at time of writing, up just over 1% in 24 hours and about 10% in 14 days, posting its best third quarter since 2017 with a 42% gain. Larger holders added 41,025 BTC over 10 days and BIT Research puts the True Market Mean at around $76,900, with a bullish scenario between $185,000 and $215,000.
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