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Bitcoin’s Next Bounce Zone? $84.4K Has A Crowd

Bitcoin’s Next Bounce Zone? $84.4K Has A Crowd

Bitcoin’s Next Bounce Zone? $84.4K Has A Crowd

In Brief

  • • On-chain data flags $84.4K–$84.8K as a major Bitcoin support zone.
  • • Nearly 400,000 BTC were accumulated in this range.
  • • Price reaction here could shape the next move.

On-chain cost basis data is highlighting a major support band for Bitcoin (BTC) just below current prices, with the strongest support sitting around $84.4K, or specifically between $84,449 and $84,845.

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As it happens, this is where buyers accumulated roughly 397,549 BTC (that’s almost 400,000 BTC), according to the analysis shared by popular cryptocurrency trading specialist Ali Martinez in an X post on December 19.

The chart frames this as a ‘cost basis distribution’ cluster, meaning a large amount of BTC last changed hands in that range. In market terms, heavy accumulation zones often act like demand pockets. 

Why This Zone Matters for Market Structure

If the price revisits the area, many holders are sitting near breakeven and may be more inclined to defend their entries, whereas sidelined buyers may see it as a high-conviction level.

At the time reflected in the graphic, Bitcoin is shown at around $87,800, putting that support zone only a few thousand dollars below. If BTC continues to chop or dips further, traders will likely watch how the price behaves as it approaches $84.4K – $84.8K.

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Indeed, for the time being, the crypto market’s original asset is changing hands at the price of $88,006.95, which indicates an increase of 0.82% in the last 24 hours, a 4.79% decline across the previous seven days, and an accumulated loss of 3.7% on its monthly chart, according to the most recent information.

Bitcoin price 7-day chart.
Bitcoin price 7-day chart. Source: CoinMarketCap

Reaching the $84.4K-$84.8K level could either spark a bounce due to concentrated demand or, if broken decisively, signal that buyers from that cluster are no longer absorbing sell pressure.

In short, the data suggests Bitcoin’s clearest ‘buyer footprint’ sits near $84.5K, making it a key area to monitor for any potential stabilization or rebound.

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