Benson Sun says Bitcoin 83000 to 84000 USD range shows clear buying absorption
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AT A GLANCE
Benson Sun said that Bitcoin saw clear buying absorption in the 83000 to 84000 USD range.
Article
Benson Sun: Bitcoin at 83000 to 84000 USD range saw active fund absorption, with a clear buying response
According to BlockBeats,October 4, Benson Sun, founder of Coinkarma, posted that October 1 late 11 around, U.S. stocks and gold weakened simultaneously, while Binance BTC/USDT spot market saw approximately consecutive 400 units of BTC market buy orders, keeping the price above 84,000 USD, with the candlestick ultimately closing as a doji.October 3 Around 1 a.m. 30 minutes, within the same price range, the market briefly saw approximately 1400 units of BTC market sell orders. The price was rapidly pushed lower and formed a relatively long lower shadow, but subsequently still held that area. The candlestick showed that approximately 100 units of BTC sell orders appeared every few seconds at the time, but each dip was quickly pulled back by buying demand.
Benson Sun noted that this area highly overlaps with the 83,000 to 84,000 USD range where on-chain holdings have rapidly accumulated recently. Based on the spot order flow and on-chain data, this price range saw active fund absorption, and BTC after entering this area, the buying response was relatively clear.
Original link https://m.theblockbeats.info/flash/370213
Key points
01
BlockBeats reported that Benson Sun, founder of Coinkarma, posted an analysis of Bitcoin market performance.
02
Benson Sun said that around October 1 late 11 the U.S. stock market and gold weakened simultaneously.
03
Benson Sun said that at the time, Binance BTC/USDT spot market saw approximately consecutive 400 units BTC of market buy orders, with the price holding above 84,000 USD, and the candlestick ultimately closing as a doji.
04
Benson Sun said that around October 3 early morning 1 at 30 minutes, approximately 1400 units BTC of market sell orders briefly appeared in the same price range. The price rapidly dipped and formed a relatively long lower shadow, but subsequently still held that area.
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Benson Sun said that approximately 100 units BTC of sell orders appeared every few seconds at the time, and each dip was quickly pulled back by buying demand.
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Benson Sun noted that this area highly overlaps with the 83,000 to 84,000 USD range where on-chain holdings have rapidly accumulated recently.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This content describes the following: When the Bitcoin price entered the vicinity of 83,000 to 84,000 USD, although relatively large sell orders appeared, the price was quickly pulled back by buying demand multiple times. Based on this, Benson Sun believes that funds were absorbed in this range, which may constitute a price area of market interest.
Why it matters to readers
If buying absorption continues to appear in this range, the market may view it as a short-term support area; however, this is only Benson Sun's assessment based on order flow, candlesticks, and on-chain data.
Beginners can understand 83,000 to 84,000 USD as the range where the text observed intense confrontation between buyers and sellers. Market buy orders represent purchases executed immediately at the market price, while a lower shadow indicates that the price fell but subsequently recovered; these phenomena do not guarantee that the price will not later break below this range.
Risks and unknowns
The text does not provide the original records of the order-flow and on-chain holdings data, so the figures of approximately 400 units, approximately 1400 units, and approximately 100 units BTC cannot be independently verified.
Based solely on the information in the text, it cannot be confirmed that the 83,000 to 84,000 USD range will continue to hold in the future.
The conclusion in the text that funds were actively absorbing supply and buying was clearly evident reflects Benson Sun’s market judgment, not a verified result.
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The text does not specify the full time range, statistical methods, or on-chain data sources used for the relevant observations.
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BTC/USDT
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