Market Wrap: Bitcoin Hits $40K Again While Ether Volume Is Erupting This Year

Market Wrap: Bitcoin Hits $40K Again While Ether Volume Is Erupting This Year


After closing out last week at over $40,000 on Sunday, bitcoin hit that price again Thursday while traders are pushing ether volumes to new liquidity levels.

Bitcoin (BTC) trading around $39,318 as of 21:00 UTC (4 p.m. ET). Gaining 8.5% over the previous 24 hours. Bitcoin’s 24-hour range: $36,125-$40,066  (CoinDesk 20) BTC above the 10-hour and 50-hour moving averages on the hourly chart, a bullish signal for market technicians.

Bitcoin trading on Bitstamp since Jan. 11.

Source: TradingView

Bitcoin’s price was back to bull mode Thursday, steadily climbing to as high as $40,066, according to CoinDesk 20 data. It’s a reversal from this week’s bearish-to-sideways action, with the world’s oldest cryptocurrency at $39,318 as of press time.

Read More: Bitcoin Bounces, Options Market Sees 20% Chance of $50K at Month’s End

“Bitcoin passing $40,000 was seen by many as inevitable, and reaching this level is just the

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