Bitcoin (BTC) reached $63,400 on October 12, gaining 8% following a stronger-than-expected U.S. Consumer Price Index (CPI) report. Trader Peter Brandt predicts that BTC could soar to $135,000 by September 2025, spurred by a recent $200 million buying spree from whale wallets, which added over 3,200 BTC between October 8 and 12.
Brandt noted that Bitcoin’s recent price consolidation might be insignificant compared to upcoming gains, especially as historical trends suggest significant price increases usually occur in the latter half of Bitcoin’s four-year halving cycles. However, he cautioned that if Bitcoin drops below $48,000, his bullish outlook could be invalidated.
The current market sentiment is further influenced by speculation about potential interest rate cuts by the Federal Reserve, which would make riskier assets like Bitcoin more attractive. Recent on-chain data shows major investors are accumulating BTC, with notable activity from firms like MicroStrategy.
For Bitcoin to maintain its bullish momentum, it needs to break through the $65,000 resistance level. If successful, a rally towards $70,000 and beyond could unfold, making Brandt's long-term target increasingly plausible.
Summary: Brandt's forecast of $135,000 for Bitcoin hinges on historical patterns and recent whale activity, but key resistance levels and macroeconomic factors will significantly influence its trajectory.
Comments