Bitcoin hit a high of $69,546 this morning, just one step away from the $70,000 it briefly broke through in late July. Volatility is expected to further increase, so investors are advised to be patient and cautious.

Bitcoin continued to fluctuate above $68,000 over the weekend until it regained momentum after 6 a.m. this morning (21), breaking through the $69,000 mark. Before writing this article, it reached a high of $69,546, just one step away from the $70,000 it briefly broke through at the end of July.

But will Bitcoin set a new all-time high or will it fall back to the key resistance zone of $70,000? It remains to be seen.

The highest point was $2,769, a nearly two-month high.

Bitwise CEO: 7 factors will help push Bitcoin to $100,000

In this context, Matt Hougan, CEO of asset management company Bitwise, wrote on X last weekend that he expects seven major factors to push Bitcoin to its $100,000 target:

We are on our way to 6 figures in Bitcoin:

. ETF funds are re-accelerating inflows;

. The US election is coming;

. The United States' unlimited deficit policy (bipartisan consensus);

. China's epic release of funds;

. Global central banks cut interest rates (Fed, ECB);

. The Bitcoin halving effect is beginning to show;

. The whales are stockpiling.

Bitcoin open interest exceeds $40 billion

However, in the face of Bitcoin's rise, Glassnode analyst James Check also reminded investors earlier that the current market sentiment is greedy, and Bitcoin futures open interest has reached a new high, and the market correction may occur at any time:

High leverage means a greater possibility of volatility washouts, and price pullbacks may occur at any time.

In the past 24 hours, the entire network has liquidated $130 million

As Bitcoin continues to rise, according to Coinglass data, the total amount of cryptocurrency liquidations exceeded US$133 million in the past 24 hours, and nearly 56,000 people were liquidated.

Although it was the weekend, the margin call data was not too serious. It is speculated that the volatility may be further amplified afterwards.