Garrett Jin: Bitcoin needs to digest selling pressure at $82,500, advises focusing on three key indicators

Agent of "BTC OG Insider Whale" Garrett Jin released market insights, noting Bitcoin is approaching a dense supply zone. The critical area remains $80,000 to $82,500, where a large number of Bitcoin’s on-chain cost levels are concentrated—formed during the final rally before the sell-off, though not all these tokens need to be traded. On the positive side, capital flow data is strong. As of August 26, U.S. spot ETFs have attracted inflows for eight consecutive trading days, totaling ~$2.8 billion. August’s inflows hit roughly $3.3 billion, the highest monthly amount so far this year. On-chain metrics show the 7-day moving average of net realized profit and loss is positive at ~$752 million, with realized profits near $1.1 billion and realized losses at $354 million. Despite overhead supply, spot demand is surging. Garrett Jin argues that a consistent close above $82,500 would signal full absorption of circulating supply (i.e., position turnover is complete). On the downside, the key level is $76,600, near short-term holders’ cost basis. A single-day close below this is manageable, but a real warning would trigger if at least two of three metrics deteriorate simultaneously: ETF capital flows, Coinbase premium, and the 7-day exponential moving average of net realized profit and loss. On-chain data reveals Garrett Jin’s address added 600 BTC long positions at $79,000 on the early morning of August 26, worth $47.4 million. He now holds 1,868 BTC long positions (valued at $147 million) with an average entry price of $77,090, posting an unrealized profit of $2.78 million.