Bitcoin’s price rose above $40,000 on Monday, representing the first time the market has moved above that level since mid-June.

At press time, the cryptocurrency is trading at $40,085 on Coinbase, up more than 17% in the past twenty-four hours. As noted in the chart below, bitcoin’s price last rose above $40,000 on June 16.

The market move comes hours after bitcoin’s push above $39,000 triggered the liquidation of some $883 million in crypto short positions, as The Block reported this morning. 81% of those liquidations were in connection with bitcoin short positions, with $720 million liquidated.

Market observers attributed the price move to a range of possible factors, including speculation about Amazon’s interest in cryptocurrency and the continued scrutiny of the market by Chinese authorities…read more.