300,000 BTC Bought at $84K: New Floor for Bitcoin’s Price?

Bitcoin’s recent price movements have brought attention to the $84,000 range, where a large amount of buying activity was recorded. This zone may now act as a key support level as traders assess whether the market has formed a new base.

Heavy Accumulation Around $84,400

Data from Glassnode, shared by analyst Ali Martinez, shows that 300,648 BTC were acquired between $84,375 and $84,635 as of December 3, 2025. This level saw the highest concentration of accumulation during the recent pullback, making it a clear area of interest for long-term holders.

Earlier this week, Bitcoin dipped below $84,000 following a sharp decline but quickly recovered. As of press time, BTC trades at around $91,300, showing a 2% decline over the past 24 hours, but a slight increase over the past week.

Meanwhile, the Long-Term Holder SOPR (30-day average) is currently at 1.40, based on on-chain data. SOPR above 1 means long-term holders are selling their coins at a profit. SOPR tends to fall below 1 during accumulation phases and near 0.50 at deeper cycle lows. Ali stated,

With SOPR at elevated levels, the data suggests the market is in a profit-taking phase, not one of heavy accumulation.

Trendline Rejection and $80K Support in Focus

Bitcoin saw its deepest pullback of the year, falling over 36% after being rejected by a long-term trendline, according to analyst Rekt Capital. Previous rejections from the same trendline caused corrections of 32% and 14%, showing the strength of this resistance level.

Price support around $80,000 has held several times. Past rebounds from this area have reached 31% and 48%, though the current recovery stands at only 15%. Rekt Capital noted that if this bounce remains limited, it may suggest a weakening of the $80K support area.

Double Barrier Ahead: Trendline and FVG

Chart analysis from Titan of Crypto shows Bitcoin facing a “double barrier” consisting of the 3-year ascending trendline and a weekly bearish Fair Value Gap (FVG). The price is currently below both levels.

This zone now acts as resistance. Bulls need to push through the trendline and close the FVG to reclaim momentum.

CryptoPotato reported that recent price movements and market signals could indicate Bitcoin is nearing the bottom range of its current cycle. Traders are monitoring the $93,500 resistance level, which has been tested repeatedly in recent sessions, making it a key area to watch for a potential breakout or reversal.

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