Data from Cointelegraph Markets Pro and TradingView monitored BTC/USD as it crawled toward $29,500 on Bitstamp.The pair had shed $1,000 in minutes earlier on the day as over $200 million in long liquidations accompanied a return below $30,000.Reactions subsequently linked the price action, which originated in a 16,000-BTC market sell on Binance, to a potential forthcoming news event, this ultimately failing to materialize at the time of writing.Market participants thus remained level-headed, arguing that important support levels were still present amid a healthy retracement.“A move to 28k is normal/healthy,” popular trader Credible Crypto wrote in part of Twitter commentary.