Worth $47.4 million, BTC OG insider whale agent Garrett Jin address added 600 BTC long positions at $79,000

Odaily News, according to Garrett Jin's monitoring, Garrett Jin stated that Bitcoin is approaching a supply dense zone, with the key range still at $80,000 to $82,500. A large amount of Bitcoin's on-chain cost basis is located in this range, which was formed during the last upward wave before the sell-off, but not all related tokens need to be traded. As of August 26, U.S. spot ETFs have seen capital inflows for 8 consecutive trading days, accumulating approximately $2.8 billion, with August inflows reaching about $3.3 billion, making it the highest-inflow month this year. On-chain data shows that the 7-day moving average of net realized profit/loss is positive, at approximately $752 million, with realized profits nearing $1.1 billion and realized losses at $354 million. Despite supply overhead, spot demand is flowing in. Garrett Jin believes that if Bitcoin continues to close above $82,500, it will indicate that chip turnover is completing and supply has been fully absorbed. On the downside, the key level is $76,600, which is close to the short-term holder cost basis. A single daily close below this level is manageable, but if at least two of the three indicators—ETF fund flows, Coinbase premium, and the 7-day exponential moving average of net realized profit/loss—deteriorate simultaneously, it would constitute a warning. On-chain information shows that Garrett Jin's address added 600 BTC long positions at a price of $79,000 in the early hours of August 26, worth $47.4 million.