$BTC is trading around $78K after getting rejected from the $80K–$83K area.
And this is where things get interesting.
🐋 Whales are starting to distribute again, with all major wallet cohorts showing net selling for the first time since early June. $83K is still the big wall.
But bulls aren't completely out of the picture.
Bitcoin is approaching a potential golden cross, while spot BTC ETF demand has also improved recently.
The bigger problem? 🔥 U.S. macro is back in control.
August jobs came in stronger than expected, pushing Fed rate-hike expectations higher. Now traders are waiting for Thursday's PPI and Friday's CPI.
So I'm watching two zones: $83K → reclaim this and BTC could reopen the path higher. $78K → lose this decisively and the pullback could get deeper.