Bitcoin (BTC) showed signs of a resurgence on January 22, after a trip below $ 30,000, which generated buyer support.
BTC price seals 8.5% daily rejection
Data from Cointelegraph Markets and TradingView showed a stronger trading day for BTC / USD on Friday, with daily gains of 8.5% at the time of writing.
The turnaround follows a turbulent 24 hours in which Bitcoin has dropped to $ 28,950 – a key level when it comes to whale support and only its second drop below $ 30,000 this year.
At the same time, MicroStrategy, known for its growing Bitcoin treasury, confirmed that it bought 314 BTC to raise its total treasure to 70,784 BTC.
“Microstrategy just bought another 314 #Bitcoin for $ 10 million. @Michael_saylor bought the dip”, an information resource based on Twitter Documenting Bitcoin summed up, referring to the company’s CEO, Michael Saylor.
The last buy-in came at an average cost of $ 31,808 per Bitcoin and joins the grayscale asset manager’s ongoing purchases that challenge overall sales action in recent weeks.
All eyes on whales for $ 29,000
Among other major BTC investors, however, interest remained focused on the area for just under $ 30,000.
According to the monitoring feature Whalemap, this area is crucial to maintain in order to avoid an additional price drop in BTC / USD, which could bring the pair closer to $ 20,000.
“Falling below $ 28,727 and consolidating there will give us another big drop to at least $ 23,818,” explained part of a series of tweets, along with an accompanying chart.
“Few support below $ 28,727 now, so if we start to consolidate there, it will probably take BTC to at least $ 23,818,” co-founder Artem Lazarev told Cointelegraph.
“$ 23,818 is not super strong, but it should still give BTC time to reevaluate the situation. Otherwise, $ 19,322 is super strong and a level that big players are probably wasting time on.”