Glassnode, a leading on-chain platform, has identified a potential support area for Bitcoin near the $80,000 mark. Recent price declines have led to significant accumulation of investors at this level, forming one of the most concentrated areas in recent market history. According to the platform’s analysis, increasing interest from buyers just above $80,000 is a strong indicator of support. The concentration of Bitcoin buying activity within this region has also become evident on heat maps, offering an indication of investor behavior and pricing patterns. Analysts believe that these price levels will act as a protective barrier for short-term investors, potentially preventing further declines. However, it’s important to note that this is not investment advice.