300,000 BTC Accumulated at $84K: Is Bitcoin Building a New Price Floor?

Bitcoin’s latest market pullback has revealed an important trend: a massive wave of buying around the $84,000 price zone. With more than 300,000 BTC accumulated at this level, analysts are increasingly speculating that Bitcoin may have quietly formed a new foundational support area for the current cycle.

Large-Scale Buying Around $84,400

Fresh on-chain 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 range represents the highest concentration of buying activity during the recent dip, highlighting a strong willingness from investors to accumulate at mid-$80K levels.

300,648 Bitcoin $BTC were accumulated around $84,400, making it a significant support level. pic.twitter.com/i9FAqEpHMI

— Ali (@ali_charts) December 5, 2025

Earlier this week, Bitcoin briefly dropped below $84,000 before swiftly rebounding. At the moment, BTC trades near $91,300, showing a mild weekly increase despite a slight 24-hour decline. This rapid recovery suggests that buyers are aggressively defending the $84K region.

Profit Taking vs. Accumulation: SOPR Signals the Trend

The Long-Term Holder SOPR (30-day average) currently sits at 1.40, meaning long-time investors are selling their coins at a profit. Historically:

• SOPR > 1 = profit taking
• SOPR < 1 = accumulation zone
• SOPR near 0.50 = deep market lows

According to Ali Martinez, “Dollar-cost averaging makes the most sense when SOPR falls below 1.”

Since the current reading is well above that level, the market appears to be in a profit realization stage, not yet a strong accumulation phase. Even so, the heavy buying around $84K shows that many investors view this zone as a favorable long-term entry.

Trendline Rejection and Key Levels to Watch

Bitcoin recently suffered its sharpest pullback of the year—over 36%—after a rejection from a major long-term trendline. Analyst Rekt Capital notes that this same trendline previously triggered 32% and 14% corrections, confirming its importance as a strong resistance barrier.

With BTC once again approaching the $93,500 resistance, traders are watching two crucial areas:

• Resistance: $93.5K
• Support: $80K–$84K accumulation zone

If buyers continue to defend the mid-$80K range, this area could become the new price floor supporting Bitcoin’s next upward move.

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