Garrett Jin: BTC needs to hold above $80,000 after breaking $82,500 to absorb sell pressure.

Huoxing Finance reports that on September 3, Garrett Jin, agent of the “BTC OG Insider Whale,” released a market analysis stating that the $76,600 level, marked last week as a key downside support, played a role this week. Bitcoin retreated toward this support level just before U.S. equity market open but ultimately held firm and rebounded above $77,000. The cost basis map reveals a significant new supply cluster has formed between $75,000 and $80,000, providing a more solid floor than during the initial short squeeze. The largest visible cost basis cluster currently lies between $80,000 and $82,500. A breakout above $78,600 to $79,000 would enter the upper portion of the current range, but the tougher test lies between $80,000 and $82,500. Only after a daily close above $82,500 followed by a pullback that holds above $80,000 can the market be considered to have effectively absorbed price-sensitive selling pressure. On the funding side, U.S. spot ETFs recorded approximately $3.5 billion in net inflows in August; September began with bidirectional flows, with a net outflow of about $237 million on Tuesday, accompanied by a cooling in retail activity. Garrett Jin noted that only if the daily close falls below $76,600 and ETF flows, Coinbase premium, and 7-day average realized profit/loss all weaken simultaneously will it be considered a true warning signal—until then, he will not directly short the support. Macro pressures are becoming the core market contradiction. Oil prices have returned to around $95, and the U.S. 10-year Treasury yield has breached 4.8%, with market pricing for a Fed rate hike in September now at approximately 70%. Bitcoin’s ability to hold $76,600 during this macro shock provides strong evidence that recent spot demand is not purely driven by short squeezes. Friday’s non-farm payrolls report will be the next key test: if data is strong and rate hike logic intensifies, $76,600 may be retested; if data is weak and Bitcoin still fails to reclaim $79,000, it may indicate that spot demand is losing momentum due to factors beyond macro conditions. Garrett Jin maintains a bullish view for the end of the year: AI profits have not declined, AI spending continues to advance, and genuine Bitcoin allocation channels exist—but the near-term path heavily depends on whether interest rates can halt their current accelerated rise. Risk assets can tolerate high rates, but struggle with weekly rising yields.