Bitcoin bulls are expected to maintain their advantage over bears as long as the price stays above $66,500, according to analysts from crypto exchange Kraken. They noted that Bitcoin had positioned itself above all key moving averages, suggesting a strong bullish control. If Bitcoin remains above this threshold and continues its upward trajectory, analysts believe the next significant price level to watch is $73,679, with potential for further gains if it breaks through. Currently, Bitcoin is priced at $66,578, having dipped 1.89%. The decline was attributed to industry uncertainties and geopolitical tensions. Additionally, recent reports indicated that the U.S. government is investigating Tether, contributing to market volatility. Analysts also identified a bearish engulfing pattern in Bitcoin's price charts, indicating some short-term caution and potential for minor pullbacks or consolidation, supported by the relative strength index showing signs of being overbought.

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