Bitcoin momentarily pushes beyond $39,000 for the first time since mid-June

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Bitcoin momentarily surpassed $39,000 for the first time since June 16 and is now trading in the green for the sixth day in a row.

Since July 21, Bitcoin’s price has been rising, with Sunday’s increase being the greatest single-day gain in over six weeks. The world’s most popular cryptocurrency is currently trading at roughly $38,400, down from a monthly high of around $39,850. During Bitcoin’s 12 percent price breakthrough, crypto short bets totaling $883 million were liquidated in the last 12 hours.

Bitcoin short positions totaling $720 million were liquidated.

According to statistics from Bybt.com, short Bitcoin holdings accounted for 81 percent of the $883 million in short positions liquidated, with $720 million liquidated. The majority of Bitcoin and crypto short liquidations occurred in the last four hours when Bitcoin’s price rose significantly. After trading largely near $34,000 levels throughout the weekend, Bitcoin began to break out about 0:00 UTC on Monday. It had surged over 10% within hours, crossing the $39,000 mark for the first time since mid-June.

Elon Musk makes an announcement. SpaceX also holds Bitcoin.

During a conversation with Twitter CEO Jack Dorsey and ARK Invest CEO Cathie Wood today, tech tycoon Elon Musk stated that both Tesla and SpaceX hold Bitcoin. Despite his criticism about proof of work principles, Elon Musk stated that he is ultimately a proponent of Bitcoin and cryptocurrencies during The B Word panel. He stated that his sole publicly traded stock is Tesla, but that the only three major assets he holds outside of business shares are Bitcoin, ether, and dogecoin, with Bitcoin outnumbering ether and doge. Musk acknowledged that, in addition to his holdings, SpaceX also holds Bitcoin.

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