Bitcoin price searches for support near $35K, DeFi tokens move higher

price is finding soft support at $35,000 after dropping 7.4% in the later hours of Jan. 19.

According to Cointelegraph contributor Joseph Young, the correction was primarily the result of an overheated derivatives market and uncertainty over whether BTC can recapture the $40,000 level. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin (BTC) fell as low as $33,400 before recovering to the $35,000 level.