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.