Bitcoin hovers near $82,000 resistance as seller pressure hits a yearly low.

Article by Glassnode

Translated by AididiaoJP, Foresight News

Bitcoin is once again approaching a resistance zone. Cost basis data, liquidation heatmaps, and institutional breakeven levels all align nearly at the same price. Yet, as it rallies toward this resistance, selling pressure is the lightest it has been this year. Actual inflation has fallen to a two-year low, while yields remain at elevated levels for this cycle.

Key Points

• Bitcoin has risen 23% over the past 21 trading days, while the stock market has barely moved during the same period, though it is still down 10% for the year.
• Core inflation fell to a two-year low of 2.5%, while inflation expectations remain at 3.6%, creating the widest gap in three years.
• The cost basis of long-term holders, the liquidation heatmap, and ETF breakeven levels all cap the ceiling at $83,000 to $86,000; spot is only 1.5% away from touching the lower boundary.
• The selling pressure during the rally was less than half of what was seen in August, and long-term holders largely did not participate in this round of selling.
• The bottom signal, which had shown strong alignment for several months, has now faded; altcoins have not siphoned away market share from Bitcoin as they typically did before previous tops.