ME News reports that, as of September 7 (UTC+8), according to Glassnode data, BTC has recently faced significant selling pressure near $83,000, with all holder address groups—regardless of size—turning net sellers for the first time since early June. Overall market selling pressure is rising. Following BTC’s recent rally, whales and other holder groups have begun increasing their allocations, causing the price to stall repeatedly near $83,000. However, BTC’s potential “golden cross” continues to provide some support for bulls. The short-term market direction will depend on whether buyers can absorb the current distribution pressure and break through this key resistance level. (Source: BlockBeats)
Bitcoin faces $83,000 sell pressure wall as all holder groups turn net sellers for the first time since early June.
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Summary
Bitcoin news on September 7 identifies $83,000 as a key resistance level, with all holder groups turning net sellers for the first time since early June. Glassnode data reveals increasing selling pressure as whales and other groups ramp up distribution. Bitcoin analysis suggests a potential golden cross may offer some support, but buyers must absorb the current selling pressure to break through this level. (Source: BlockBeats)
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