Bitcoin's price has surged to nearly $38,000, due partially to the anticipation of a Bitcoin Exchange-Traded Fund (ETF). Analysts predict a good chance of an ETF approval by January 10. At the same time, social dominance of Bitcoin is surging, with its trading volume and open interest in futures jumping significantly. MicroStrategy has also recently invested over $5 million into acquiring 155 BTC. Bitcoin's daily chart is moving in a bullish trend, but the current RSI suggests an overbought condition. If it breaks through $39,300, it could reach $45,700. On the other hand, a descent below $34,230 could lead to the support level of $30,501. Overall, it appears the cryptocurrency is strongly bullish, with the potential to reach $40,000.



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