Share this article
Bitcoin Climbs Past $40K for First Time Since Mid-June
Market analysts say Monday's price gains accelerated amid a short squeeze.
Updated Sep 14, 2021, 1:31 p.m. Published Jul 26, 2021, 7:24 p.m.
Bitcoin's notorious volatility was enriching bulls on Monday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The bitcoin price has climbed 17% over the past 24 hours to clear $40,000 for the first time since mid-June.
The largest cryptocurrency by market value, which dipped below $30,000 as recently as last week, has now climbed for a sixth straight day.
Analysts in digital-asset markets attributed the latest climb in part to a short squeeze: Traders who had previously bet on further price declines scrambled to get out of their positions, while others were liquidated due to margin calls.
So far in 2021, bitcoin is up 38%. That's more than double the 18% year-to-date gain in the Standard & Poor's 500 Index of large U.S. stocks.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Price-action of dog memecoins dogecoin, shiba inu muted amid thin holiday liquidity
The market remains technical, with DOGE and SHIB's movements reflecting broader risk sentiment and liquidity conditions.
What to know:
- Dogecoin and Shiba Inu both declined, with DOGE at $0.123 and SHIB at $0.000007165, as broader crypto market struggles continued.
- DOGE is trading within a tight range, needing to hold above $0.122 to avoid further declines, while SHIB has already broken key support levels.
- The market remains technical, with DOGE and SHIB's movements reflecting broader risk sentiment and liquidity conditions.
Top Stories
