Glassnode: Bitcoin Faces Resistance at $83K, All Groups Turn to Net Selling

On September 7, according to CoinDesk, Glassnode data shows that all Bitcoin wallet groups have collectively turned to net selling for the first time since early June. Bitcoin fell back below $80,000 after facing resistance at the $83,000 key level. Glassnode's accumulation trend score has dropped to 0.37, with lower values indicating more aggressive selling, and whale groups holding over 1,000 BTC are the main force behind the sell-off. Over the past nearly three months, almost all groups had been actively accumulating. Bitcoin is also facing resistance at the 50-week moving average of approximately $79,687. However, the 50-day moving average could cross above the 200-day moving average as early as Tuesday, forming a golden cross, which would provide a bullish signal for longs and imply that Bitcoin may eventually break through the resistance zone.