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Bitcoin rises above $40,000

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Representations of the Bitcoin cryptocurrency are seen in this illustration picture taken June 7, 2021. REUTERS/Edgar Su/Illustration

Bitcoin broke above $40,000 on Wednesday and headed for another attempt at breaking from its months-long range as short-sellers bailed out and traders drew confidence from recent positive comments about the cryptocurrency by high-profile investors.

Bitcoin was last up 1.7% at $40,149 while rival cryptocurrency ether rose 1% to $2,328. Bitcoin is within a whisker of rising through its 100-day moving average.

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