Bitcoin price bounces above $ 32K as MicroStrategy ‘buys the dip’ with $ 10M

Bitcoin (BTC) showed signs of resurrection on January 22 after a trip of under $ 30,000 generated fresh buyer support.

BTC price seals daily bounce 8.5%

Data from Cointelegraph Markets and TradingView showed a stronger trading day for BTC / USD on Friday, with daily earnings up 8.5% at the time of writing.

The turnaround follows a turbulent 24 hours when Bitcoin slipped to $ 28,950 – a key level of whale support and only its second dip below $ 30,000 this year.

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

At the same time, MicroStrategy, known for its ever-expanding Bitcoin treasury, confirmed that it purchased 314 BTC to bring its total hoard to 70,784 BTC.

“Microstrategy has just bought 314 more #Bitcoin for $ 10M. @Michael_saylor bought the dip,” an information resource on Twitter, Documenting Bitcoin summarized, referring to the company’s CEO, Michael Saylor.

The latest purchase came in at an average cost of $ 31,808 per Bitcoin and joins the ongoing purchases of the asset manager Grayscale which challenge general sales actions in recent weeks.

All eyes on whales at $ 29,000

Among other major BTC investors, meanwhile, interest remained focused on the area at just under $ 30,000.

According to the monitoring resource Whales, that area is crucial to capture to avoid a further price drop at BTC / USD, one that could take the pair closer to $ 20,000.