Garrett Jin: Bitcoin Faces Selling Pressure Near $82,500, Highlights Three Key Indicators

Huoxing Finance reports that on August 28, Garrett Jin, agent of the “BTC OG Insider Whale,” shared market insights stating that Bitcoin is approaching a dense supply zone. The key region remains between $80,000 and $82,500, where a significant amount of Bitcoin’s on-chain cost basis was formed during the final rally before the recent sell-off; however, not all of these coins necessarily need to be traded. On the other hand, fund flow data remains positive. As of August 26, U.S. spot ETFs have attracted capital for eight consecutive trading days, totaling approximately $2.8 billion, with August’s total inflows reaching around $3.3 billion—making it the strongest month for inflows this year. On-chain data shows that the seven-day moving average of net realized profit is positive, at approximately $752 million, with realized profits nearing $1.1 billion and realized losses at $354 million. Despite the supply above, spot demand is flowing in. Garrett Jin believes that sustained closes above $82,500 would indicate that the handover of筹码 (chips) is completing (supply is being fully absorbed). On the downside, the critical level is $76,600, near the cost basis of short-term holders. A single-day close below this level is still manageable; however, a true warning signal would emerge if at least two of the following three indicators deteriorate simultaneously: ETF fund flows, Coinbase premium, and the seven-day exponential moving average of net realized profit/loss. On-chain data shows that on the morning of August 26, Garrett Jin’s address added a 600-BTC long position at $79,000, worth $47.4 million. He currently holds 1,868 BTC longs (worth $147 million) at an average price of $77,090, with an unrealized profit of $2.78 million.