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3 Reasons Bitcoin Price Rally Is At Risk – Details

  • Bitcoin recorded a price rise of 4.07% in the past week, reaching as high as $66,000.
  • Concerns over the sustainability of the rally arise due to a lack of interest from retail investors in Korea and the US, high Open Interest with low spot volume, and the dominance of derivatives trading.
  • Analyst Wenry suggests that the current rally may be a temporary uptick driven by a select group of market participants.
  • Another analyst predicts Bitcoin to break its all-time high price in Q4 2024 and expects altcoins to surge in price as well.

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