Bitcoin (BTC) climbed to fresh all-time highs on Jan. 7, coming within striking distance of $40,000.
Cryptocurrency market overview. Source: Coin360 BTC price reaches $37,800
Data from Cointelegraph Markets, Coin360 and TradingView showed Bitcoin getting yet another boost overnight on Wednesday as protestors stormed the Capitol in Washington D.C.
After showing signs of continuing strength during trading the day before, BTC/USD abruptly headed north, reaching a new peak of $37,800.
By press time on Thursday, a subsequent retracement had sent the pair focus on the $37,000 mark, with Bitcoin still within 10% of hitting $40,000.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
According to the latest updates for order books, significant resistance lay in wait at $38,000, with more selling pressure beginning at $39,500. Support was less decisive above $31,000.
BTC/USDT order heatmap (Binance). Source: Material Indicators
“It’s amazing, an amazing year,” Cointelegraph Markets analyst Michaël van de Poppe summarized in his latest YouTube update.
He added that while
