Bitcoin's recent price movements have brought attention to the $84,000 range, where a significant 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, as shared by analyst Ali Martinez, indicates that 300,648 BTC were acquired between $84,375 and $84,635 as of December 3, 2025. This price range experienced the highest concentration of accumulation during the recent market pullback, establishing it as a clear area of interest for long-term holders.
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 experienced a dip below $84,000 following a sharp decline, but it subsequently recovered. As of the current press time, BTC is trading around $91,300, reflecting a 2% decrease over the past 24 hours, although it has seen a slight increase over the past week.
In parallel, the Long-Term Holder SOPR (30-day average) is currently situated at 1.40, according to on-chain data. A SOPR value above 1 signifies that long-term holders are selling their coins at a profit. Typically, SOPR tends to fall below 1 during accumulation phases and hovers near 0.50 during deeper cycle lows. Ali Martinez stated in a related analysis,
“Dollar-cost averaging makes sense when SOPR drops below 1.”
Given that SOPR is currently at elevated levels, the data suggests the market is in a profit-taking phase rather than a period of heavy accumulation.
Trendline Rejection and $80,000 Support in Focus
Bitcoin experienced its most significant pullback of the year, declining over 36% after being rejected by a long-term trendline, as noted by analyst Rekt Capital. Previous rejections from this same trendline resulted in corrections of 32% and 14%, underscoring the strength of this resistance level.
Price support around the $80,000 mark has been tested and held on multiple occasions. Historically, rebounds from this area have led to gains of 31% and 48%, although the current recovery from this level has only reached 15%. Rekt Capital has observed that if this recent bounce remains limited in scope, it could indicate a weakening of the $80,000 support area.
Double Barrier Ahead: Trendline and Fair Value Gap
Chart analysis provided by Titan of Crypto reveals that Bitcoin is currently confronting a "double barrier." This consists of the 3-year ascending trendline and a weekly bearish Fair Value Gap (FVG). The current price of Bitcoin is positioned below both of these levels.
This combined zone now functions as resistance. For bulls to regain upward momentum, they will need to successfully push through the trendline and close the FVG.
“This is where bulls need to show strength,” Titan commented.
CryptoPotato reported that recent price actions and market indicators might suggest that Bitcoin is approaching the lower end of its current cycle range. Traders are actively monitoring the $93,500 resistance level, which has been tested repeatedly in recent trading sessions, making it a critical area to watch for a potential breakout or reversal.