Bitcoin hits $83,000 supply wall as all holder cohorts flip to net selling for first time since early June
AI Market Summary
Glassnode data indicate broad-based BTC distribution, with all wallet-size cohorts turning net sellers for the first time since early June, coinciding with repeated stalling near the $83,000 area. This suggests rising supply at a key resistance level and a more fragile near-term bid. A potential "golden cross" may temper downside reflexively, but seller dominance makes absorption capacity the immediate driver.
Impact level
● High
Affected assets
BTC/USDT-0.63%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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ME News said that as of Sept. 7 (UTC+8), Glassnode data shows Bitcoin is encountering heavy distribution around $83,000. Address cohorts across all balance sizes have turned into net sellers for the first time since early June, pointing to a broader pickup in sell-side pressure.
After BTC's latest rally, whales and other holder groups have increased selling activity, repeatedly capping price action near $83,000. Even so, a potential "golden cross" signal is still offering some support to bulls. Near-term direction will hinge on whether buyers can absorb the current supply and push through this key resistance level. (Source: BlockBeats)
