🚨 $BTC LOSES $82K: 4.08M NEW COINS IN THE RED
🚨 Bitcoin has fallen back below $82,000. The number of large wallets holding 10 to 10,000 BTC just hit an all-time high.
1. Bitcoin bounced to $82,300 last night but couldn’t hold. It’s now at $81,490, down 1.0% over 24 hours (CoinGecko, 8:30 a.m. today).
2. Whales are buying the dip. The number of wallets holding 10 to 10,000 BTC just hit an all-time high (24/7 Wall St).
3. Short-term holders now hold 4.08M BTC, the most since mid-June. Since the July 29 low, this group has added 422,000 BTC. Their aggregate cost basis is about $74,900, which is still holding. But most of the new money bought between $82,000 and $86,000, so those buyers are now all underwater.
My take: $82,000 is the breakeven line for new money. If Bitcoin can’t reclaim it, it becomes resistance. Whales are picking up coins dumped by short-term holders.
What to watch: Can Bitcoin reclaim $82,000? If not, every bounce will face breakeven selling pressure.
Are you betting it reclaims $82,000 tonight, or stays under pressure?
$BTC #TradingStrategy #BitcoinRecoversTo$82K #BitcoinShortTermHoldersReach4.08MBTC
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Fully quantitative trading to capture every market opportunity.
🚨 Bitcoin has fallen back below $82,000. The number of large wallets holding 10 to 10,000 BTC just hit an all-time high.
1. Bitcoin bounced to $82,300 last night but couldn’t hold. It’s now at $81,490, down 1.0% over 24 hours (CoinGecko, 8:30 a.m. today).
2. Whales are buying the dip. The number of wallets holding 10 to 10,000 BTC just hit an all-time high (24/7 Wall St).
3. Short-term holders now hold 4.08M BTC, the most since mid-June. Since the July 29 low, this group has added 422,000 BTC. Their aggregate cost basis is about $74,900, which is still holding. But most of the new money bought between $82,000 and $86,000, so those buyers are now all underwater.
My take: $82,000 is the breakeven line for new money. If Bitcoin can’t reclaim it, it becomes resistance. Whales are picking up coins dumped by short-term holders.
What to watch: Can Bitcoin reclaim $82,000? If not, every bounce will face breakeven selling pressure.
Are you betting it reclaims $82,000 tonight, or stays under pressure?
$BTC #TradingStrategy #BitcoinRecoversTo$82K #BitcoinShortTermHoldersReach4.08MBTC
——
Fully quantitative trading to capture every market opportunity.
