Kraken analysts believe that as long as Bitcoin remains above $66,500, it will continue to trend upwards. The analysts also point out that if Bitcoin can continue to rise, the next key stage will be the historical high of $73,679 set in March, breaking through this level may open the door to new price discovery and further upward momentum.

Regarding the previous drop in Bitcoin price from $66,500 to $65,700, cryptocurrency trader Herdy believes that this may be a market reaction to FUD about Tether and subsequent events in Israel and Iran.