AMBCrypto reported that while some whale investors are taking profit and reducing their Bitcoin holdings, the selling intensity itself is not significant. The media stated, "Looking at on-chain indicators over the past three weeks, whale holdings decreased by 0.2% while retail investor group holdings increased by 0.09%. It appears that retail investors are absorbing the selling volume from whales. However, the buying interest from retail investors has not yet led to strong FOMO-driven chase buying. Technically, BTC is still facing strong resistance near $80,000. It began a sharp rise from $63,000 on August 19, but its ascent has been halted multiple times near $80,000. Conversely, $75,500 is acting as a major support level, and the upward momentum, based on the Relative Strength Index (RSI), has somewhat slowed down," it diagnosed.
