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.
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.
“Falling below $ 28,727 and consolidating there will give us another big fall of at least $ 23,818,” explained part of a series of tweets, along with a related graphic.
“Not much support under $ 28,727 right now, so if we start consolidating there, it will probably bring BTC all the way to at least $ 23,818,” co-founder Artem Lazarev told Cointelegraph.
“$ 23,818 is not very strong but should nevertheless provide time for BTC to reassess the situation. Otherwise, $ 19,322 is very strong and is a level at which big men probably set their stoplosses.”