$BTC is trading around $78K after getting rejected from the $80Kโ$83K area.
And this is where things get interesting.
๐ Whales are starting to distribute again, with all major wallet cohorts showing net selling for the first time since early June. $83K is still the big wall.
But bulls aren't completely out of the picture.
Bitcoin is approaching a potential golden cross, while spot BTC ETF demand has also improved recently.
The bigger problem? ๐ฅ U.S. macro is back in control.
August jobs came in stronger than expected, pushing Fed rate-hike expectations higher. Now traders are waiting for Thursday's PPI and Friday's CPI.
So I'm watching two zones: $83K โ reclaim this and BTC could reopen the path higher. $78K โ lose this decisively and the pullback could get deeper.