BTC Faces Two Resistance Zones; 950K BTC Accumulated in $84K-$85K Range

On-chain analyst Murphy identified two major resistance zones for Bitcoin on Nov. 28 based on Cost Basis Distribution heatmap $94,000-$98,000 and $101,000-$118,000, with $98,000 representing historical fair value and $104,000 marking the short-term holder average cost. Approximately 950,000 BTC accumulated in the $84,000-$85,000 range recently, with around 400,000 BTC representing genuine turnover after excluding Coinbase's Nov. 22 wallet reorganization of approximately 550,000 BTC. The accumulation correlates with whale activity during the recent price decline.