Can Bitcoin reach $40,000 today?

After falling in the middle of the week, bitcoin (BTC) suddenly began to rise in price today.

Moreover, the exchange rate on Friday, January 29, is strengthening at an aggressive pace. The coin soared to $37,400 at the time of publication of this review. The capitalization of the MTC now exceeds $693.57 billion.

Altcoins are also gaining in value today. Of the top ten, the best results were shown by Dogecoin (DOGE) and Stellar (XLM), which jumped in price per day by 300% and 21% to $0.055 and $0.31, respectively.

Ether (ETH) is now trading above $1,400. The capitalization of the cryptocurrency market has again exceeded $1 trillion, now it is about $1.072 trillion.

Analysts from the WhaleMap team predicted last week that even if the market enters the red zone, bitcoin will not fall below $30-29, 000. The necessary support will be provided by the "whales". Today, the team confirmed its position and pointed to a key support zone around $29,314, where investors were buying.

The strengthening of the inflow of large capital into BTC is also evidenced by the data from Glassnode. As of January 28, the number of addresses containing 1,000 bitcoins has increased to a new historical high (2,450).

Since the beginning of this year, 140 new wallets with a balance of 1000+ BTC have appeared on the network. This is certainly a "bullish" factor for the cryptocurrency, according to the researchers.