After weeks stuck in the $30,000 range, Bitcoin's price has shot up again.
Whether crypto investors like it or not, Elon Musk has a significant amount of power over the market. He previously sent Bitcoin prices tumbling after announcing Tesla would suspend Bitcoin purchases over environmental concerns. Since Bitcoin leads the crypto market, its price drop took most of the other major coins down with it.
Yesterday, Musk responded on Twitter to an allegation that he used Bitcoin as a pump and dump. He claimed that Tesla only sold 10% of its Bitcoin holdings to confirm it could be liquidated without moving the market. He also said that once there's confirmation of reasonable clean energy usage by miners, Tesla would accept Bitcoin again.
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