Glassnode: Bitcoin faces resistance at $83,000 as investors shift to net selling

According to Glassnode data, various Bitcoin wallet cohorts have shifted to net selling for the first time since early June. Bitcoin retreated below $80,000 after failing to clear the $83,000 resistance level. The accumulation trend score has dropped to 0.37, with large holders owning over 1,000 BTC leading the sell-off. While Bitcoin faces resistance at its 50-week moving average of approximately $79,687, a potential golden cross between the 50-day and 200-day moving averages could provide a bullish signal.