Bitcoin (BTC) showed signs of a resurgence on Jan. 22 after a less than $ 30,000 journey that garnered new buyer support.
BTC price seals 8.5% daily bounce
The turnaround follows a turbulent 24 hours in which Bitcoin slid to USD 28,950 – a significant level when it comes to whale-only support the second dip below $ 30,000 this year.
At the same time, MicroStrategy, known for its ever-expanding Bitcoin treasury, confirmed that it had bought 314 BTC to bring its total treasure to 70,784 BTC.
“Microstrategy just bought 314 more #Bitcoin for $ 10 million. @Michael_saylor bought the dip,” Twitter-based source of information Documenting Bitcoin summarized, referring to the company’s CEO, Michael Saylor.
Last buy-in averaged $ 31,808 per Bitcoin and ties in with ongoing purchases from asset manager Grayscale defies general sales promotions the past weeks.
All eyes on whales at $ 29,000
Among other major BTC investors, meanwhile, interest in the area remained focused at just under $ 30,000.
According to control source Whalemap, that area is crucial to hold onto to avoid a further price dip on BTC / USD, one that could take the pair closer to USD 20,000.
“If we fall below $ 28,727 and consolidate there, we’ll get another big drop to at least $ 23,818,” explained part of a series of tweets, along with an accompanying image.
“There aren’t many supporters below $ 28,727 at the moment, so if we start to consolidate there, the BTC will likely bring in at least $ 23,818,” co-founder Artem Lazarev told Cointelegraph.
“$ 23,818 isn’t super strong, but should still give BTC time to reassess the situation. Otherwise, $ 19,322 is super strong and a level where the big boys are likely to set their stop losers.”