Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week's Losses

Bitcoin has rallied nearly 15% in the past 24 hours. Ether hits $1,200.

By Zack Voell

Jan 14, 2021 at 3:52 p.m. UTC

Updated Sep 14, 2021 at 10:56 a.m. UTC

Bitcoin bulls push price back to $40,000 on Thursday.

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Zack Voell

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Alex Thorn

Head of Firmwide Research

Galaxy

Hear Alex Thorn share his take on "Bitcoin and Inflation: It’s Complicated” at Consensus 2023.

Secure Your Seat

Bitcoin briefly broke above $40,000 again Thursday morning as the market reversed the bulk of its losses from Monday.

The leading cryptocurrency rose to $40,066.32 before settling back to $39,521.46, up 14.25% in the past 24 hours, per CoinDesk's Bitcoin Price Index (BPI).
Over the weekend and into early Monday morning, bitcoin dipped nearly 30% from its peak just below $42,000. The move prompted CNN Business writer Paul La Monica to declare bitcoin in a bear market.
With the downturn seemingly over, other cryptocurrencies are following bitcoin, with ether reclaiming $1,200, up 13%.
Polkadot has gained 21% and litecoin is up 11% in the past 24 hours, per market data from Messari.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Zack Voell

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Zack Voell