It has been just revealed that Bitcoin might be about to pop, and below, you can see an analysis of the price for the most important digital asset.

Bitcoin is on the edge of a breakout

According to economist and crypto analyst Alex Krüger, Bitcoin (BTC) is poised for a potential surge and has ample room for growth.

Krüger recently shared his optimistic outlook in a Wolf of All Streets stream, emphasizing the significance of the BlackRock spot BTC exchange-traded fund (ETF) application.

He also says that technically speaking, Bitcoin has a liquidity air pocket between $31,000 and $37,000 from when crypto markets collapsed last year during the disintegration of the Terra ecosystem.

If BTC convincingly enters that range, Krüger says a rather dramatic rally could ignite.

“We have very strong news [of the] BlackRock Bitcoin ETF, likely being approved. It’s debatable if it’s going to get approved or not – the probability is debatable – the point is right now we have just heard 20% of this news, and the probability is about 50% if not around 75%. So the point is, on the one hand, the market is not positioned right for this. The other point is that the news is huge and not properly priced in yet.”

He continued and pointed out the following:

“In technical spaces, we are right on the edge of resistance, between $31,000 and $37,000, $37,000 being the lunar level from May 18th or whatever… When some of us had a heart attack and when some of us went out and danced for joy. Anyway. That’s the point of Bitcoin. We’re right at the edge of a breakout. Once it breaks, it should keep on running.”

Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the green and the king coin is priced at $30,968. Stay tuned for more news.

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