Odaily Planet Daily report: Garrett Jin, agent of the "1011 Insider Whale," stated in the latest weekly report that despite oil prices rising to approximately $95 this week, the U.S. 10-year Treasury yield breaking above 4.8%, and market expectations for a Fed rate hike in September rising to around 70%, Bitcoin has held its key support at $76,600 and has now rebounded above $77,000.
Garrett noted that the $75,000 to $80,000 range has established a significant new cost base, providing stronger support for the market; if Bitcoin’s daily close breaks above $82,500 and subsequently holds above $80,000 during a pullback, it would be a key signal that the market has absorbed selling pressure and is poised for further strength. A daily close below $76,600, combined with at least two of the following indicators weakening—ETF fund flows, Coinbase premium, and 7-day net realized profit/loss—would constitute a clearer downside warning.
On the funding side, U.S. spot Bitcoin ETFs recorded net inflows of approximately $3.5 billion in August, but the start of September saw bidirectional flows, with a net outflow of about $237 million on Tuesday. Garrett believes that despite increasing macroeconomic interest rate pressures, Bitcoin has held key support levels, indicating that recent spot demand is not entirely driven by short squeezes. He maintains a constructive outlook for Bitcoin’s year-end performance but believes its future movement will depend on whether U.S. Treasury yields can halt their sustained upward trend.