Benson Sun: Bitcoin has strong capital support in the range of $83,000 to $84,000, and the buying response is evident

Coinkarma founder Benson Sun posted that around 11 PM on October 1, both the US stock market and gold weakened simultaneously, but the Binance BTC/USDT spot market saw a continuous market buy order of about 400 BTC, supporting the price above $84,000, and ultimately the candlestick formed a doji.

Around 1:30 AM on October 3, within the same price range, the market briefly saw about 1,400 BTC market sell orders, causing the price to drop rapidly and form a long lower shadow, but it still held in that area. The candlestick showed that approximately 100 BTC sell orders appeared every few seconds, but the price was quickly pulled back by buy orders after each dip.

Benson Sun pointed out that this area highly overlaps with the recent rapid accumulation of on-chain chips in the $83,000 to $84,000 range. Combining the spot order flow with on-chain data, it is judged that there is active capital support in this price range, and the buying response was quite evident after BTC entered this area.