Bitcoin Faces Selling Pressure at $83,000 as Whale Distribution Accelerates
Source Summary
Bitcoin is encountering resistance at the $83,000 level as all wallet cohorts have shifted into net distribution for the first time since early June. This shift indicates that large holders are selling rather than accumulating. However, a potential golden cross technical pattern may provide support for bullish traders.
Why it matters
The shift of all wallet cohorts into net selling represents a significant change in holder behavior that could influence Bitcoin's near-term price direction.
