Bitcoin: 300,648 BTC Accumulating Around $84,400 to Form a Major Support Level, Says Ali Charts

COINOTAG News reports on December 5 that on-chain data from analyst @ali_charts highlights a pronounced Bitcoin accumulation signal anchored by the cost basis heatmap. An estimated 300,648 BTC are concentrated near the $84,400 mark, forming a credible support level for near-term price action. The clustering reflects steady demand from long-term holders and institutional participants, potentially informing risk metrics and liquidity dynamics in the cryptocurrency market. Traders should monitor adjacent bid density and order-flow resilience around this zone, as sustained buying could constrain downside risk while limiting sharp upside moves. As additional on-chain indicators unfold, this visible bid floor may influence price trajectories and risk appetite across BTC-based assets.