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Bitcoin (BTC) and the overall cryptocurrency market have experienced a significant uptrend, reaching a new annual high and surpassing $1.45 trillion in market capitalization. BTC, the largest cryptocurrency, has achieved a remarkable milestone by approaching the $40,000 level with a surge in price to $38,400. This surge can be attributed to several catalysts, including the anticipated acceptance of the BlackRock Bitcoin Spot exchange-traded fund (ETF) within the next 45 days. There is also speculation that BlackRock, the world’s largest asset manager, may influence Bitcoin’s price through significant buying pressure on Coinbase, the largest cryptocurrency exchange in the United States. The recent surge in market capitalization has not only boosted Bitcoin but has also led to gains in other major cryptocurrencies within the Top 100. For example, Blur (BLUR) has soared by 27%, Mina Protocol (MINA) has gained 9%, and Bittensor (TAO) has seen a 14% surge in the last 24 hours. Crypto expert “Crypto Rover” suggests that BlackRock’s involvement in Bitcoin’s recent surge is based on the observation that a significant amount of Bitcoin buying pressure is coming from Coinbase, which serves as BlackRock’s custodial partner. In terms of Bitcoin’s future price targets, renowned crypto analyst “Crypto Con” has unveiled Log Regression Curves that provide insights into the potential price levels in late 2025. According to these projections, Bitcoin could reach two potential price targets: $130,000 (referred to as Layer 6) and $180,000 (referred to as Layer 7). Crypto Con believes that the $130,000 target is more likely based on various models and projections. This projection aligns with the Halving Cycles Theory, suggesting a timeframe of approximately 21 days from November 28th, 2025. Although Bitcoin recently experienced a pullback from its new yearly high, trading at $37,800, the overall trend remains positive, with potential gains expected in the final days of November.