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Market Wrap: Bitcoin Climbs as Elon Musk Tames Shorts

CoinDesk
 2021-07-21

Cover picture for the articleBitcoin and other cryptos rallied as Musk boosted bullish sentiment during The B Word conference. Cryptocurrencies rebounded on Wednesday as short sellers covered positions ahead of Tesla CEO Elon Musk’s appearance at The B Word Conference. Bitcoin was trading at around $32,000 at press time and is up 8% over the past 24 hours. The sharp price bounce reflects positive sentiment in an attempt to reverse a monthlong downtrend largely driven by regulatory uncertainty.

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