Bitcoin (BTC) climbed to fresh all-time highs on Jan. seven, coming within striking distance of $40,000.

Cryptocurrency marketplace overview. Source: Coin360

BTC price reaches $37,800

Information from Cointelegraph Markets, Coin360 and TradingView showed Bitcoin getting even so another boost overnight on Wednesday as protestors stormed the Capitol in Washington D.C.

After showing signs of continuing strength during trading the day earlier, BTC/USD abruptly headed northward, 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 even so within 10% of hitting $40,000.

BTC/USD one-hour candle chart (Bitstamp). Source: TradingView

According to the latest updates for order books, significant resistance lay in await at $38,000, with more than selling pressure level beginning at $39,500. Back up was less decisive above $31,000.

BTC/USDT order heatmap (Binance). Source: Material Indicators

"It's amazing, an astonishing yr," Cointelegraph Markets analyst Michaël van de Poppe summarized in his latest YouTube update.

He added that while the current price action was something to be celebrated, a "salubrious correction" was now getting more probable.

"Would that exist bad? No, equally the college Bitcoin goes, the more money is into the markets and the more than money can flow towards the altcoins from this perspective," he connected.

Altcoins nonetheless steal the show

As Cointelegraph reported, the end of December was characterized past more funds inbound long-term storage, with the remaining available supply field of study to what Van de Poppe and others term "FOMOing in" from less experienced buyers.

These felt that they should seize the opportunity and buy Bitcoin at higher levels, having had no interest in doing and then while Bitcoin traded at $10,000, he noted.

Across major altcoins, Ether (ETH) was upwardly 2.3% on the day, hit $one,180, while embattled XRP put in a surprise move to add 27%.

Stellar (XLM) meanwhile continued its march upwards, hitting $0.34 on the back of weekly returns that topped 170%.

Bitcoin's market place cap dominance stood at 68.5% on Thursday, downwardly from 69.vii% at the offset of the week.