Bitcoin Stalls at $83,000 Resistance Amid Net-Selling Pressure
Bitcoin's price has stalled at $83,000, unable to break through heavy selling pressure. The Accumulation Trend Score for all investor groups stands at 0.37, indicating a net-selling phase.
The data shows that whale investors holding more than 1,000 BTC are leading the selling effort, which is a departure from the past three months when nearly every investor cohort showed strong accumulation.
A possible advance could be signaled by Bitcoin's 50-day moving average crossing above its 200-day moving average to form a golden cross. This could happen as early as September 8.