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Bitcoin (BTC) simply refuses to die this week as a dip below $60,000 barely lasts an hour and bears are burned yet again.

After a fairly calm weekend, Sunday, Oct. 17, saw a typical drawdown before a dramatic resurgence took place for BTC/USD just an hour later.

With that, Bitcoin has preserved not only its bullish trajectory but has also sealed its highest weekly close ever — around $61,500.

As the market braces for a possible start of trading for the United States’ first Bitcoin exchange-traded funds (ETF), volatility is all but guaranteed, analysts say.

Cointelegraph takes a look at five things to consider in the week that BTC/USD squares up to all-time highs and institutional access takes a historic leap forward.

Bitcoin gives less than an hour to “buy the dip”
Just when it seemed that the run to all-time highs had hit a stumbling block, Bitcoin surprised everyone yet again overnight.

After losing $60,000 late Sunday, bulls had no time for BTC price weakness, and before BTC/USD had even hit $59,000, they embarked on an aggressive buying spree.

Hours later, the pair was back above not only $60,000 but $62,000 — and has stayed there at the time of writing.

The episode did not even impact Bitcoin’s weekly close, which despite volatility still came in as the highest of all time — around $61,500.

“The historic Weekly Close now means BTC is well-positioned for further upside,” trader and analyst Rekt Capital summarized on Monday.

He added that the next phase of BTC price action will be “more volatile” than what has come before in previous bull market years 2013 and 2017.

As various analysts celebrate the weekly close milestone, meanwhile, the upcoming U.S. market open could also provide excitement.

Monday, Oct. 18, could see the launch of the first-ever Bitcoin ETF products with the blessing of U.S. regulators, this coming as BTC/USD is less than $3,000 from new all-time highs.

On the topic of derivatives, funding rates across exchanges have also cooled since last week, providing relief for those concerned about unsustainable upside leading to a blow-off top.

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