With constant threats from various regulators and influencers, the cryptocurrency market has been bearish for a while. If not, the whole industry was in threat at an instance. This was drawn back by 1,000 and is now trading around $38,000 in most exchanges. Behind Bitcoin, other altcoins like Ethereum, Dogecoin, Litecoin, etc., have rallied with at least 4-5% spikes. Analysts say that this news triggered the spike today, and coupled with few words from influencers like Elon Musk and Cathie Wood. Tesla’s chief, Elon Musk, said that he’s holding a fair amount of cryptocurrencies in his portfolio, including Bitcoin and Dogecoin. And also said Tesla and SpaceX have some too. Further, Ark Investment Management LLC’s Cathie Wood said that corporations should consider adding Bitcoin to their balance sheets. All these pushed the sentiments of cryptocurrency investors, where more than $700 million of Bitcoin shorts were liquidated on Monday, as per Bybt.com. Also, there’s a significant surge in Bitcoin futures, with over 1,000 contracts changing hands in a 10-minute trading window.
