The world’s most popular cryptocurrency, bitcoin, jumped 15% on Monday to over $39,000, following two days of steady gains that may mean a turn towards a bullish crypto market.

The cryptocurrency pared some of the gains, trading at about $38,300 as of 9:00am GMT, after briefly topping $39,000 for the first time since mid-June. Bitcoin fell below $30,000 last week amid a global stock sell-off, raising concerns that the crypto could fall even further.

With the latest surge, more than $700 million of bitcoin short positions were liquidated on Monday, the most in at least the past three months, data from Bybt.com showed. Bitcoin futures also surged, with over 1,000 contracts traded within 10 minutes.