Bitcoin price breaks above $40,000 again for first time in over two weeks

Bitcoin's price has risen above $40,000 again after a steady rebound from its recent low of nearly $30,000 last week.

As of the time of writing, bitcoin is trading hands at roughly $40,380, according to data from Coinbase, an increase of about 12.7 percent in the past twenty-four hours. Bitcoin's price hasn't traded above the $40,000 mark since May 27, as shown in the chart below.

RELATED INDICES

On Sunday, the mining difficulty of bitcoin — the measure by which how easy or hard it is to mine a new BTC block — fell by 5.3%. The difficulty appears to have fallen in the wake of miner shutdowns triggered by regulatory crackdowns in China, as reported by The Block.

About Author

Wolfie joined The Block’s news team in 2020 and switched to the research side in 2021 to focus on crypto mining analysis. Prior to The Block, he had been a journalist at CoinDesk for three years. Wolfie has a background in financial journalism.