**[Bitcoin Faces Intense Divergence at $82,000, Star Traders Debate Market Outlook Remotely]** BlockBeats News, August 29: Over the weekend, Bitcoin reversed downward after breaking through $81,000 amidst bearish news such as the Jackson Hole speech. During this period, some traders had already warned of selling pressure risks at the $82,000 level, while star traders argued that short-term selling pressure is not a major concern. BlockBeats has compiled the arguments from both bullish and bearish sides regarding the market outlook as follows: Analyst alicharts stated on August 27 that Bitcoin's URPD (UTXO Realized Price Distribution) data shows significant resistance in the $83,307-$84,569 range, which could trigger profit-taking and short-term corrections. If a pullback occurs, potential support levels for Bitcoin are at $76,996-$78,258 (with a trading volume of 843,000 BTC) and $63,111 (with a trading volume of 925,000 BTC). A pullback to these areas could provide the next major buying opportunity. Renowned trader Killa has been warning of short-term pullback risks since August 19. However, by comparing Bitcoin's bottoming pattern in 2022, he predicts that the current pullback after Bitcoin's surge will be relatively shallow, with $70,000-$73,000 likely serving as the bottom. Yesterday, Killa reiterated in a post that Bitcoin has no chance of breaking the $100,000 mark this year. Both technical and market factors require consolidation and sideways movement, with $100,000 expected to be seen in Q2 next year. Jiang Zhuoer, founder of the BTC.TOP mining pool, shares a similar view with Killa. On Friday, he posted that both BTC and ETH have broken below their ascending channels. With no ETF buying over the weekend, this is a weak period for bulls, potentially leading to a wave of declines. He disclosed selling 50% of his ETH spot holdings at an average price of $2,430. In contrast, star trader "Set 10 Big Goals First" does not believe that the selling pressure at $82,000 will significantly impact Bitcoin's mid-term trend. On August 28, he confirmed in a post that he had already repurchased two-thirds of his position in the $78,000-$79,800 range. "Basically, before $100,000, it's hard to see any substantial pullback. $100,000 will come very soon." As of press time, Bitcoin has been consolidating sideways after dropping to $77,500. Based on the collective views of various traders, the consensus is that Bitcoin's mid-to-long-term bullish trend remains intact. If further declines occur over the weekend or next week, there may be short-term buying opportunities.
24/7 Flashes
More >CME FedWatch shows that the probability of the Federal Reserve raising interest rates in September has risen to 57%
According to Bitcoin.com News, CME FedWatch data shows that the probability of the Federal Reserve raising interest rates by 25 basis points on September 16th has risen to 57%, and the probability of keeping rates unchanged is 43%. The transaction volume related to Polymarket exceeded $66.6 million, and the transaction volume related to Kalshi exceeded $23.8 million. Federal Reserve Chairman Kevin Walsh stated at the Jackson Hole Economic Policy Seminar that the Fed will adhere to a 2% personal consumption expenditure PCE price index inflation target.
ETH breaks through the $2500 mark
OKX-ETH/USDT is currently trading at $2498.97, with a 5-minute increase of 0.46%. Please be aware of market fluctuations.
BTC breaks through the $79000 mark
OKX-BTC/USDT is currently trading at $79000, up 0.14% in 5 minutes. Please be aware of market fluctuations.
Lobster fever rises, 24-hour trading volume increases
The trading volume of crayfish has increased to 6.7 times the average level of the past 7 days in the past 24 hours, with a cumulative price increase of 175.8%. It is now reported at $0.0699 and currently ranks 8th on the AiCoin hot search list. The significant amplification of transactions accompanied by price strength usually reflects an increase in capital participation and the dominance of long positions. At the current stage, the flow of funds, transaction structure, and the movement of large amounts of funds deserve special attention. By using AiCoin PRO's "Main Large Orders" and "Main Transactions", one can further observe the buying and selling situation of large funds, the price range of transactions, and the sustainability of funds. The above content is for reference only and should not be used as any investment advice
BTR heat rises, 24-hour trading volume increases
The trading volume of BTR has increased to 18.5 times the average level of the past 7 days in the past 24 hours, with a cumulative price increase of 435.5%. It is now reported at $0.1637 and currently ranks second on the AiCoin hot search list. The significant amplification of transactions accompanied by price strength usually reflects an increase in capital participation and the dominance of long positions. At the current stage, the flow of funds, transaction structure, and the movement of large amounts of funds deserve special attention. By using AiCoin PRO's "Main Large Orders" and "Main Transactions", one can further observe the buying and selling situation of large funds, the price range of transactions, and the sustainability of funds. The above content is for reference only and should not be used as any investment advice