Bitcoin's recent performance, gaining 11% in a week, has left traders apprehensive about a potential price retracement before it aims for new all-time highs. Analysts highlight a significant risk of long liquidations, with a 62.48% chance of liquidation within 24 hours due to increasing volatility and leverage costs. Current trading activity around $68,400 recalls volatility seen earlier in the summer, when prices dipped significantly shortly after reaching high points. Some predict a drop to around $61,300 could be imminent but are hopeful for a recovery leading to new highs. Interestingly, the Bitcoin Futures open interest reached an all-time high, which has prompted mixed reactions from analysts; while some see this as a bearish indicator that could flush out long positions, others believe it signals continued bullish sentiment. As Bitcoin navigates these volatile conditions, the market watches closely for how these dynamics may shape its next moves.

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