Benson Sun: Bitcoin is seeing active capital support in the $83,000 to $84,000 range, with obvious buying response.
54 minutes ago
Coinkarma founder Benson Sun posted that around 11 PM on October 1, U.S. stocks and gold weakened simultaneously, but the Binance BTC/USDT spot market saw consecutive market buy orders of roughly 400 BTC, supporting the price above $84,000, with the final candlestick closing as a doji. Around 1:30 AM on October 3, within the same price range, the market briefly had market sell orders of around 1,400 BTC, which pushed the price down sharply to form a long lower wick before the level held. Candlestick data shows sell orders of roughly 100 BTC appeared every few seconds at the time, but every price dip was quickly reversed by buy orders. Benson Sun pointed out that this range highly overlaps with the $83,000-$84,000 zone where on-chain holdings have accumulated rapidly recently. Based on spot order flow and on-chain data, there is active capital support in this price range, and buy orders have responded noticeably once BTC enters this zone.
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