As we approach the 4th Bitcoin block reward halving, there is heightened excitement among investors and traders. Bitcoin's price has been showing notable strength recently, trading around $69,500 with a market value of $1.36 trillion.

Analyst Predicts Bitcoin Price Surge

Cryptocurrency analyst Rekt Capital believes that Bitcoin has entered a significant breakout phase, with a weekly close above $69,000. The analyst suggests that retesting this range as a new support is crucial for confirming the breakout and expects Bitcoin to potentially rise to $75,000 as the halving approaches.

CEO Expects Significant Price Rally

Mark Yusko, CEO of Morgan Creek Capital Management, is confident in a substantial price rally post-halving. He predicts a Bitcoin price of $150,000 by year-end, anticipating a parabolic rally about nine months after a block reward halving.

Impact of Macroeconomic Data

Amidst all this, macroeconomic data from the US continues to influence the spot Bitcoin market performance. Experts emphasize that the performance of the US spot Bitcoin ETF market will be shaped by macroeconomic indicators such as net inflows or outflows.

The original post can be found on COINTURK NEWS: Bitcoin Price Surges as Block Reward Halving Approaches.