Bitcoin Surges to 8-Month High Analyst Eyes 2027 Peak
Bitcoin kicked off October with a strong rally, closing the week above $86,000 for the first time in eight months. The leading cryptocurrency briefly approached $87,000 but retreated due to selling pressure, ending the week below that threshold.
The rise in Bitcoin’s price was influenced by economic data from the US, particularly weaker-than-expected Personal Consumption Expenditures (PCE) and non-farm payroll figures. These reports eased concerns about further interest rate hikes by the Federal Reserve, boosting market sentiment. Additionally, a decline in US 10-year Treasury yields and a surge in global equity markets supported demand for riskier assets like Bitcoin.
The bullish momentum in Bitcoin also lifted other major cryptocurrencies. Dogecoin led the gains with a 3% increase, while XRP, BNB, and Zcash (ZEC) rose between 1% and 2%. Ethereum (ETH) and HYPE saw modest gains, whereas Solana and TRON remained relatively stable.
Analyst Killa, known for accurately predicting Bitcoin’s May 2025 peak, suggested that the next all-time high could arrive between May and July 2027. According to his analysis, Bitcoin’s market cycles are shortening, potentially accelerating the next bull run. However, he emphasized that this forecast is speculative and should not be treated as a definitive price target.