BTC's 82,500 mark: a volatile game before selling pressure is absorbed

According to Woofun AI, BitForex founder Jarrett King determined that until the selling pressure is completely absorbed, the Bitcoin price will be limited below $82,500, and the market will enter a volatile consolidation period.

Structurally, gold defines $72,500 to $84,000 as a reasonable trading range, with $80,000 to $82,500 forming a key resistance band. He believes that sideways trading helps deleveraging. If the daily closing position stabilizes at $82,500, the oversupply problem will be mitigated; conversely, if it falls below $76,600, which is close to the average cost of short-term holders, it indicates a weak trend.

The more critical variable is funding. According to data compiled by Woofun AI, the US Bitcoin spot ETF had a net inflow of about US$2.8 billion for eight consecutive trading days up to August 26, with a total net inflow of US$3.3 billion in August, a record monthly high of US$3.3 billion. Spot buying is absorbing high sell orders, but investors need to be wary of the weakening of at least two of the ETF trends, the Coinbase (COIN.US) premium level, and the seven-day average actual profit and loss value. This will be a sign of loss of momentum.

Although BitForex is mired in fraud allegations, Kim's analysis is still worth referring to. Bitcoin's short-term trend depends on whether it can hold the $82,500 mark to confirm the removal of selling pressure, and the market is likely to remain range-bound until then. If the closing price falls below $76,600 and the indicators deteriorate, investors should remain highly cautious to prevent downside risks.