Garrett Jin: BTC needs to reach $82,500 and hold above $80,000 to absorb the selling pressure
2026-09-03 19:54:40
According to CoinMeta, analyst Garrett Jin stated that Bitcoin managed to hold its ground at the support level of $76,600 and returned above $77,000. There is a significant cost base in the range of $80,000 to $82,500. Only after closing above $82,500 on a daily chart and then pulling back to hold above $80,000 can it be considered that the price-sensitive selling pressure has been effectively absorbed. Additionally, in August, there was a net inflow of $3.5 billion in US spot ETF, while in September on Tuesday, there was a net outflow of $237 million. Under the current macroeconomic pressures, oil prices have rebounded to $95 per barrel, and the yield on 10-year US Treasury bonds has surpassed 4.8%. The market's pricing for a Fed interest rate hike in September has risen to 70%, and the Friday non-farm payroll report will become a key test.
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Source:Internet
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