Bitcoin continued to fluctuate above $68,000 over the just-ended weekend. It gained momentum again after 6 AM this morning (21st), breaking through the $69,000 mark. At the time of writing, it has slightly dipped to $68,715, representing a 0.89% increase in the past 24 hours.

However, whether Bitcoin is about to set a new historical high or is on the verge of falling back to the key resistance level of $70,000 remains to be seen.

Ethereum also reached a new high of $2,769, the highest in nearly two months. At the time of writing, it has slightly dipped to $2,734, representing a 3.7% increase in the past 24 hours.

Bitwise CEO: 7 Factors to Push Bitcoin to $100,000

Against this backdrop, Matt Hougan, CEO of asset management firm Bitwise, posted on X last weekend that he expects seven factors to drive Bitcoin to the $100,000 target:

Bitcoin Open Interest Exceeds $40 Billion

Although Bitcoin rally seems really strong, Bitop's market analysis team also reminded investors that the current market sentiment is characterized by greed, and that Bitcoin futures open interest has reached a new high. High leverage means a greater possibility of volatility and liquidation. The price may pull back at any time. Investors should be aware of the risks.

$138 Million Liquidated Across the Network in the Past 24 Hours

According to Coinglass data, over the past 24 hours, more than $138 million worth of cryptocurrencies have been liquidated across the network, with short positions accounting for $95 million. Over 57,000 traders have been liquidated.

Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.