{"id":34753,"date":"2021-01-14T19:47:02","date_gmt":"2021-01-14T17:47:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34753"},"modified":"2025-08-28T22:03:50","modified_gmt":"2025-08-28T19:03:50","slug":"opinion-institutions-wont-let-bitcoin-fall-below-28000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/opinion-institutions-wont-let-bitcoin-fall-below-28000\/","title":{"rendered":"Opinion: Institutions won&#8217;t let Bitcoin fall below $28,000"},"content":{"rendered":"<p>Institutional players provided the key support for Bitcoin. They first kept the price above $30,000, and then pushed the cryptocurrency higher, Ki Young Ju, CEO of Crypto Quant, said.<!--more--><\/p>\n<p>According to him, many institutional investors bought Bitcoin at around $30,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">There are many institutional investors who bought <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> at the 30-32k level. The Coinbase outflow on Jan 2nd was a three-year high.<\/p>\n<p>Speculative guess, but if these guys are behind this bull-run, they\u2019ll protect the 30k level. Even if we have a dip, it wouldn\u2019t go down below 28k. <a href=\"https:\/\/t.co\/3GXLpjyWbp\">pic.twitter.com\/3GXLpjyWbp<\/a><\/p>\n<p>\u2014 Ki Young Ju \uc8fc\uae30\uc601 (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1349293008529752065?ref_src=twsrc%5Etfw\">January 13, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>If these guys are behind the bull run, they\u2019ll hold the $30,000 level. Even if there is a drop, it would not lead to a fall below $28,000 \u2014 Ki Young Ju says.<\/p>\n<\/blockquote>\n<p>On January 11 the price of Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-34000\">fell below the $31,000<\/a> level, but then the quotes recovered to around $33,000\u2013$34,000. On January 14, in 24 hours <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-climbs-4000-in-24-hours\">the price rose by $4,000<\/a>. At the time of writing the cryptocurrency trades at around $40,000.<\/p>\n<p>Earlier, Galaxy Digital founder Mike Novogratz said that institutional investors <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-institutions-have-not-yet-fully-grasped-the-crypto-market\">have not yet satisfied their interest in cryptocurrencies<\/a>.<\/p>\n<p>Subscribe to ForkLog\u2019s news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Institutional players provided the key support for Bitcoin. They first kept the price above $30,000, and then pushed the cryptocurrency higher, Ki Young Ju, CEO of Crypto Quant.<\/p>\n","protected":false},"author":1,"featured_media":34754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1138],"class_list":["post-34753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34753"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34753\/revisions"}],"predecessor-version":[{"id":34755,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34753\/revisions\/34755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34754"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}