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Story summary
- Bitcoin is testing crucial support at $110,856 following a whale selloff of 24,000 BTC valued at $2.7 billion.
- MicroStrategy has purchased $357 million in Bitcoin, raising its total holdings to 632,457 BTC.
- Analysts observe a 2.7% intraday range, suggesting controlled selling pressure despite the selloff.
- Institutional participation remains stable, with a market cap of $2.23 trillion, indicating Bitcoin's resilience.
- Concerns about market manipulation and liquidation traps have been raised, as the selloff appears unnatural.
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