You turned your back for just a minute…

That’s all it took for Bitcoin to break free of a nasty bear market that had trapped the flagship crypto for the better part of the past 10 months.

I was off the desk when the rally started, away from the grind and any decent Wi-Fi connection with the family on our end-of-summer getaway. But as Bitcoin made its first push above $70K, my phone flashed with several alerts cluing me into the big move.

Bitcoin and Ethereum were back in action, just as most of the investing world had given up hope for a real recovery.

It’s easy to look at Bitcoin’s 25%-plus rally off its August lows and assume the easy money has been made. But you shouldn’t lose too much sleep if you missed this initial move.

I’m not sweating it. I believe this is just the start of another Bitcoin bull market cycle. There will be plenty of opportunities to profit as crypto climbs out of the abyss over the ensuing weeks and months.

In fact, we could see new all-time highs and an even bigger push into uncharted territory as everyone begins to buy into the move. This won’t happen all at once. Enthusiasm will build gradually. And we’ll likely see more than our fair share of resets and downdrafts along the way.

But make no mistake: this initial move is the change in character Bitcoin bulls have been waiting for ever since crypto’s first fall from grace in late 2025.

Today, I’ll show you why this move materialized, how the new trend could develop, and the best ways to play it.

Let’s dive right in.

Bottom Feeding

The most confusing part of any new bull market is the beginning. Traders often refer to these early-stage moves as "disbelief rallies" for a reason. After months of being bled dry, everyone is mentally exhausted and skeptical of any rally that might appear in their beaten-down asset.

But here’s the thing: No one makes a big announcement when the bottom is finally in. Traders who’ve been burned trying to play a snapback that never happened slowly give up. But as this is happening, sentiment is quietly shifting. That’s exactly what’s happened to Bitcoin this month. We started to see quiet signs of improvement while the herd remained convinced the next leg lower was just around the corner.

After a grueling stretch where Bitcoin felt like it was slowly fading back toward its lows, crypto woke up.

Bitcoin jumped more than 23% last week to sneak into the $77K range for the first time since May. I went back and counted some weekly candles and found that Bitcoin hasn’t posted a weekly increase of more than 23% since March 2023, making this move its biggest weekly thrust in almost two-and-a-half years.

This isn't just some dead cat bounce.

This thrust has all the traits pointing to a new bull market for Bitcoin. The move toward $80K produced the highest overbought reading in Bitcoin since its Nov. 2024 rally. Bitcoin also convincingly broke above its 200-day moving average — the exact area where it failed during its May rally.

For the first time since October 2025, Bitcoin’s big thrust shoved the flagship crypto back above its 200-day moving average. This is a critical development. As you can see on the chart, Bitcoin attempted to retake this same average three months ago. It failed, and subsequently rolled over to find fresh 20-month lows.

Not this time! Instead, we’re treated to a beautiful push higher that lines up with similar Bitcoin rallies off its lows that began previous bull cycles.

The Perfect Storm

While the technicals are firming up, extreme negative sentiment also plays a key role in Bitcoin’s big trend change.

For much of 2026, crypto has been under-owned as investors chased semiconductors and AI plays. It makes perfect sense. After all, no sane momentum speculator would want to own Bitcoin while other areas of the market were outperforming crypto by a mile.

Zooming out for a longer-term view, we’re also seeing old resistance levels from the 2021 peak acting as a floor where buyers are stepping in.

The current Bitcoin breakout also perfectly aligns with its longer-term bull/bear cycles. All Star Charts analyst Alfonso De Pablos points out that major Bitcoin lows have been spaced almost exactly 3.91 years apart (January 2015, December 2018, November 2022).

This points directly to August/September 2026 as the next major turning point. We are smack in the middle of that window today.

What Comes Next?

Despite this surge toward $80K, crypto still has some work to do. The next step is for Bitcoin to push above those May highs near $82K. If it can accomplish this task and clear horizontal resistance, I think it’s safe to say a definitive bottom is in place. We’re almost there!

Even so, the preliminary evidence all points to a legitimate bottom forming in the major cryptos. As long as Bitcoin and Ethereum continue to consolidate constructively, I think it’s safe to bet on higher prices from here. Target Bitcoin/Ethereum ETFs on pullbacks and leveraged plays on breakout moves for short-term trades.

As for price targets, a Bitcoin breakout above $82K likely launches the flagship crypto above $100K for the first time this year. Then, new highs are within reach. Meanwhile, Ethereum has already broken above its April-May highs. A resolution higher from this current consolidation pattern targets $3,000-plus.

Remember, crypto rallies happen quickly. Look for sentiment to improve dramatically over the coming weeks as sold-out bulls fight to ride the next wave higher.