Bitcoin's decline did not trigger panic selling, and buying support in the $83,000 to $79,000 range has clearly strengthened.

October 8th, analyst Murphy posted that when the BTC price falls, the liquidity provided by market makers naturally leans toward the Bid (buy side), while traders also place orders at lower prices waiting to take delivery. Data shows that the 5% depth difference in Binance's spot order book once reached 80 million USD when BTC fell to about 83,000 USD. In relative terms, this was higher than during the pullback from September 10 to 16, and close to the level during BTC's bottoming-out consolidation phase in July.

Calculated at 83,000 USD, the buy orders within the 5% depth range roughly cover down to 79,000 USD, meaning there is a relatively thick layer of support between 83,000 USD and 79,000 USD, which may reduce the risk of the price being quickly broken through.

At the same time, the difference between Taker active buying and active selling turnover on Binance continued to rise during the price decline, indicating that active buying increased and active selling decreased. Murphy believes this shows traders have not shown obvious pessimism. Not only is the passive support below relatively sufficient, but the willingness to actively buy during the price decline has instead strengthened somewhat.