The leading cryptocurrency, Bitcoin, made a strong start to October, a month historically known for its bull run. At this point, BTC closed the week above $86,000, marking its highest closing level in the last eight months.
However, Bitcoin, unable to surpass the $87,000 level, fell back below $86,000 due to selling pressure.
Interest Rate Expectations Support Bitcoin!
Economic data from the US is believed to have influenced the rise in Bitcoin’s price.
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At this point, the fact that Personal Consumption Expenditures (PCE) and non-farm payroll data, which the Fed closely monitors in its monetary policy decisions, fell below expectations was positively received by the market. This is because the weaker-than-expected economic data reduced the pressure on the US central bank to further tighten interest rates.
On the other hand, the decline in US 10-year Treasury yields and the rise in global equity markets also supported appetite for risky assets.
Positive Trend in Altcoins!
The surge in Bitcoin was reflected in other major cryptocurrencies. Dogecoin stood out among major cryptocurrencies, rising by over 3%, while XRP, BNB, and Zcash (ZEC) gained between 1% and 2%.
Ethereum (ETH) and HYPE saw limited gains, while Solana and TRON traded sideways.
When Could Bitcoin Reach a New Peak?
An analyst using the pseudonym Killa, who has over 200,000 followers on the X platform, suggested that Bitcoin could reach its next all-time high in 2027.
In his latest assessment, the analyst noted that cycles in the Bitcoin market have shortened compared to previous periods. According to the graph he shared, the time it took for market bottoms to form in 2022 and 2026 was shorter than in previous cycles.
According to the analyst, this indicates that Bitcoin’s market cycle recovery process is accelerating. The earlier formation of cycle bottoms could mean that the next bull run may also begin earlier compared to past examples.
Based on this analysis, the analyst stated that Bitcoin could surpass its next record high between May and July 2027. The analyst predicted that the peak could occur no later than early August 2027. The analyst previously gained attention for accurately predicting the peak of the Bitcoin bull market in May 2025. However, he added that this prediction is a market forecast and should not be considered a definitive price target.
*This is not investment advice.
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