Bitcoin (BTC) held closer to the $40,000 mark on Dec. 3 after weekend gains reinforced a “strong” uptrend.

BTC/USD 1-hour chart. Source: TradingViewBitcoin leaves $60 million in shorts hanging

Data from Cointelegraph Markets Pro and TradingView tracked a fresh BTC price surge, which took BTC/USD to new 2023 highs of $39,730.

These built on upward momentum, which had entered days prior, as Bitcoin hit $39,000 for the first time since mid-2022.

With derivatives leading into the end of the Wall Street trading week, commentators had argued that spot buyers needed to step up to maintain momentum. Events ultimately took an unexpected turn, with a snap surge across Bitcoin and altcoins wiping…

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