BTC futures hit a record high of $37 billion as analysts predicted a Bitcoin surge to $83,000.

Bitcoin Could Be Ready Soars to $83,000, according to analysis by 10x Research. A breakout hinges on BTC moving above $72,000, completing an inverted head and shoulders pattern in which the asset experiences three price lows, with the middle being the deepest. This pattern suggests it is “only a matter of time” before BTC price reaches new highs, said 10x founder Markus Thielen. A break above $72,000, up just 1% from the current price of about $71,300, will hinge on U.S. non-farm payrolls data due to be released at 8:30 a.m. ET. Weak data could strengthen the Fed’s case for rate cuts, adding to the upward momentum of risk assets, including cryptocurrencies.