Bitcoin (BTC) surged higher on Jan. 14, reaching $40,000 on Coinbase amid fresh evidence of new large buys on exchanges.
BTC/USD weekly price candles (Coinbase). Source: Tradingview BTC price adds $10,000 in 3 days
The uptick is the latest bullish sign to come from Bitcoin price action, which just days ago focused on levels not much above $30,000.
The revisiting of $40,000 came hours after BTC/USD entered and appeared to flip a crucial resistance zone to support at around $38,000.
Others were already bullish beforehand. Tyler Winklevoss, co-founder of Gemini exchange, referenced various press reports of a “crash” in Bitcoin as it slid to $30,250