Bitcoin Bulls Dig In: $117K Support Zone Emerges as Accumulation Heats Up

Bitcoin's proving it's more than just a meme—again. While traditional markets obsess over Fed whispers, BTC's carving out a serious support level at $117K. Here's why the smart money's stacking sats.

The $117K floor: Not your average 'buy the dip' zone

On-chain data shows whales treating this price range like a Black Friday sale. Accumulation patterns suggest institutional FOMO is real—even if your financial advisor still calls it 'magic internet money.'

Market makers vs. paper hands

Liquidity's clustering around this level like crypto bros at a free open bar. Meanwhile, retail traders keep panic-selling to fund their next shitcoin gamble. Some things never change.

As the legacy financial system keeps printing 'stable' currencies that aren't, Bitcoin's doing what it does best: giving volatility a middle finger and building stronger foundations. The $117K zone isn't just support—it's a springboard.

• Over 1.48M BTC shifted with strong accumulation near $115K and selling below $100K.
• Accumulation dominates above $100K while distribution lessens, signaling buyer control.
• $117K–$118K forms key support, with buyers active between $105K and $120K.

Recent Bitcoin’s analysis supply changes over the last 30 days shows a large shift in buying and selling behavior across various price levels. Approximately 1.48 million BTC changed hands during this period, reflecting clear trends in accumulation and distribution that suggest the development of a new support zone NEAR $117,000 to $118,000.

Market participants have shown increased interest in buying between $105,000 and $120,000, while most selling occurred below $105,000. This changing dynamic warrants close observation for its possible impact on Bitcoin’s price movement.

People Are Buying Bitcoin Around $117K but Here’s Why That Matters

In the last 30 days, over 1.48 million $BTC changed hands.

Most selling happened below $105K, while new buyers are stepping in between $105K and $120K.

A new support zone seems to be forming around $117K–$118K.… pic.twitter.com/8qxPa96SaH

The supply change chart indicates major accumulation activity within the $100,000 to $115,000 range. Green bars above the zero line signify increased accumulation, meaning holders are buying or retaining bitcoin rather than selling.

This accumulation becomes pronounced as prices near $115,000, where the percentage accumulated nears 100%. This suggests that most market participants in this zone prefer to hold their Bitcoin, reinforcing buying pressure and contributing to price consolidation at these elevated levels.

Distribution Focused Below $100K

Selling activity, or distribution, is concentrated below the $100,000 mark, between $85,000 and $95,000. The red bars below the zero line on the supply change chart highlight significant distribution, indicating that many holders opted to sell or take profits within this price band.

The percentage of Bitcoin distributed climbs through this range, suggesting cautious or profit-taking behavior. However, recent data show that this selling pressure has decreased, signaling that the market may have absorbed much of this supply.

Cumulative Supply Change Lines Reflect Market Trends

Two additional lines on the chart show insight into the cumulative effect of accumulation and distribution. The pink line represents accumulated supply and rises sharply as prices approach and surpass $100,000, while the blue line, representing distributed supply, tapers off. This contrast indicates a market where accumulation has overtaken distribution in recent weeks, illustrating a shift toward buyer dominance at higher price points.

The region between the prices of 117,000 and 118,000 has proven to be one of the support regions. In the unlikely event of a correction in the market, this price level WOULD act as a strong foundation, given that a lot of accumulation has taken place there. The new buyers have joined the market actively at the price level of 105,000 to 120,000, lending their demand that can balance off the selling pressures.