727 FinanceAccording to ChainCatcher news, Benson Sun, founder of Coinkarma, posted that at about 11 pm on October 1, US stocks and gold weakened simultaneously, but the Binance BTC/USDT spot market saw a continuous market price buy order of about 400 BTC, supporting the price above $84,000, and finally the K line closed with a cross star.
At around 1:30 a.m. on October 3, within the same price range, a market price sell order of approximately 1,400 BTC appeared in the market for a short period of time. The price was quickly dropped and formed a long lower shadow line, but then it still held the area. The K-line shows that there were sell orders for about 100 BTC every few seconds at that time, but every time the price dropped, it was quickly pulled back by buying orders. Benson Sun pointed out that this area highly coincides with the $83,000 to $84,000 range where on-chain chips have been rapidly accumulating recently. Based on the judgment of spot order flow and on-chain data, there is active funding in this price range, and the buying reaction is more obvious after BTC enters this area.